Which of the Following Describes the Internal Control Component "Information

question 25

Multiple Choice

Which of the following describes the internal control component "information system?"

• A)Internal auditors monitor company controls to safeguard assets, and external auditors monitor the controls to ensure that the accounting records are accurate.
• B)Control procedures are designed to ensure that the business's goals are achieved.
• C)Only authorized users have access to various parts of the information system.
• D)The information system is the "tone at the top" of the business.

---

Definitions:

Unearned Rent

Income received by an entity for rent that has not yet been earned, typically because the period of tenancy has not yet occurred.

Accounts Payable

Liability accounts listing the amounts a company owes to suppliers for goods or services received on credit.

Salaries Payable

A liability account representing the amount of wages owed to employees for work performed but not yet paid.

Liability Account

A financial accounting term representing the debts or obligations of a company incurred during business operations.