Which of the Following Controls Can Minimize the Threat of Poorly

question 5

Multiple Choice

Which of the following controls can minimize the threat of poorly designed reports and graphs?

• A)Training and experience in applying IFRS and XBRL.
• B)Responsibility accounting.
• C)Backup and disaster recovery procedures.
• D)Restriction of access to general ledger.

Understand the significance of intersegment transactions for segment reporting.

Apply the tests (revenue, profit or loss, assets) to determine which segments must be disclosed separately.

Recognize when additional segments must be disclosed to meet the 75 percent external revenue threshold.

Understand the considerations for identifying operating segments based on internal reporting structures.

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Definitions:

Prototype

An original model or early sample of a product used to test and refine the concept before full-scale production.

Product Characteristics

The attributes, features, and benefits that define a product and differentiate it in the market.

Business Analysis

The process of recognizing the requirements of a business and finding ways to solve its issues.

New-product Development

The process of bringing a new product to the market, from idea generation to commercialization.