Presented Below Is a List of Terms Relating to Accounting

question 102

Short Answer

Presented below is a list of terms relating to accounting information systems,followed by definitions of those terms.
Required: Match the letter next to each definition with the appropriate term.Each answer will be used only once.
________ 1.FCPA
________ 2.Audit committee
________ 3.Collusion
________ 4.Application controls matrix
________ 5.Internal auditing
________ 6.Control environment
________ 7.Cancellation
________ 8.Statutory sanction
________ 9.Format check
________ 10.Endorsement
A.Has responsibility for reviewing the reports of the company's external auditors
B.The identification of documents to prevent their repeated use
C.A type of exposure
D.A law which requires publicly held companies to maintain adequate accounting systems
E.One of the main components of internal control
F.Agreement or conspiracy among two or more people to commit fraud
G.An example of this procedure is: all characters in the vendor number field are numeric
H.A technique for internal control analysis
I.Marking a form or document to restrict its further processing
J.An example of the monitoring component

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Definitions:

Annual Demand

The total quantity of a product or service that consumers are willing and able to purchase over the course of a year.

Carrying Cost

The expenses incurred by holding inventory or assets, including storage, insurance, and opportunity costs.

Order Costs

Expenses associated with making and processing an order for goods or services.

Economic Order Quantity

The optimal quantity of stock that minimizes the total costs associated with ordering and holding inventory.