Listed Below Are Ten Terms Followed by a List of Phrases

question 91

Multiple Choice

Listed below are ten terms followed by a list of phrases that describe or characterize five of the terms.Match each phrase with the best term by placing the letter designating the term in the space provided.
-____ Audit firm cannot provide a variety of other services to its client,such as consulting.

• A)Monitoring
• B)Oversight board
• C)Control activities
• D)Corporate executive accountability
• E)Nonaudit services
• F)Control environment
• G)Internal control
• H)Information and communication
• I)Auditor rotation
• J)Risk assessment

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Definitions:

Current Assets

Current assets are the resources a company owns that are expected to be converted into cash, sold, or consumed within a year or within the operating cycle, whichever is longer.

Return on Total Assets

A financial ratio that measures the profitability of a company relative to its total assets, indicating how efficiently a company uses its assets to generate profits.

Profit Margin

A financial metric used to assess a company's financial health by revealing the proportion of money left over from revenues after accounting for the cost of goods sold.

Total Asset Turnover

A financial metric that measures a company's efficiency in using its assets to generate sales or revenue.