Which Statement Is True Concerning the Documentation of Internal Control

question 80

Multiple Choice

Which statement is true concerning the documentation of internal control?

• A)Documentation should be sufficient to support the design and operating effectiveness of internal controls.
• B)Documentation requirements are standardized by the PCAOB.
• C)Documentation of disbursements requires paper and electronic documentation.
• D)Documentation of all transaction controls should be tested on an annual basis.

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Definitions:

Yolk Sac

An extra-embryonic membrane that provides nutrition to the developing embryo in eggs and early stages of mammalian development.

Homeotic Genes

Genes that control the overall body plan by controlling the fate of groups of cells during development.

Organisms

Any individual living entity, ranging from microorganisms like bacteria to multicellular forms such as plants, animals, and humans.

Fetal Circulation

The circulatory system in a fetus that ensures oxygen and nutrients are supplied via the placenta and helps remove waste.