A Service Auditor's Report on a Service Center Should Include

question 15

Multiple Choice

A service auditor's report on a service center should include a(n)

• A)Detailed description of the service center's internal control.
• B)Statement that the user of the report may assess control risk at the minimum level.
• C)Indication that no assurance is provided.
• D)Opinion on the operating effectiveness of the service center's internal control.

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Definitions:

NSF Checks

Checks that cannot be processed due to insufficient funds in the account on which they are drawn.

Petty Cash Fund

A minor sum of money maintained in reserve for completing instant transactions for various minor costs.

Journalize

Recording financial transactions in the appropriate book of accounts, ensuring they are officially documented.

Replenishment

The process of filling up or restocking inventory or supplies to maintain required levels.