According to PCAOB Standards for Reporting on Internal Control, Calculating

question 16

Multiple Choice

According to PCAOB standards for reporting on internal control, calculating depreciation expense or adjusting for foreign currencies is referred to as:

• A) Substantive transactions.
• B) Routine transactions.
• C) Nonroutine transactions.
• D) Accounting Estimate transactions.

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Definitions:

Minutia of Details

The small, precise, or trivial details in a body of information.

Action-oriented

Describes individuals or strategies focused on taking direct and practical steps towards achieving a particular goal or outcome.

Personality Style

Characteristic patterns of thinking, feeling, and behaving that distinguish one individual from another.

Environmental Signals

Information or cues from the environment that indicate changes or trends, relevant to organizations for strategic planning.