Annual Reports Must Include an Internal Control Report

question 96

Multiple Choice

Annual reports must include an internal control report.In this report,which group has the primary responsibility for establishing and maintaining an adequate control structure and procedures for financial reporting?

• A)Management
• B)The company's CPAs
• C)The company's internal audit staff
• D)The audit committee of the company's board of directors

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Definitions:

Data

Information that is processed or stored by a computer.

Manufacturer

A company or entity that produces finished goods from raw materials through the use of equipment and processes.

Word

In computing, a fixed-sized piece of data handled as a unit by the instruction set or the hardware of the processor.

Register

A small, fast storage location within a computer's CPU used to hold data and instructions that are currently being processed.