Which Technique of ICFR Documentation Describes the Activities Performed and Flow

question 50

Multiple Choice

Which technique of ICFR documentation describes the activities performed and flow of documents using diagrams and symbols?

• A) Narratives.
• B) Job descriptions.
• C) Questionnaires.
• D) Flowcharts.

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Definitions:

Revenue Account

A revenue account tracks the income generated from a company's primary operations, such as sales of goods and services, during an accounting period.

Unearned Management Fees

Income received by a business for services that have not yet been rendered, considered a liability until the service is provided.

Management Fees Revenue

Income earned by a company for providing managerial services, which can include advisory, administrative, or general management services.

End-of-Period Adjustment

Adjustments made to the financial records at the end of an accounting period to ensure they accurately reflect the company's financial status.