Listed Below Are Ten Terms Followed by a List of Phrases

question 32

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.
-____ Overall attitude of the company with respect to internal controls.

• 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:

Net Profit Margin Ratio

A financial performance metric that measures the percentage of net income derived from total revenue, showing how much of each dollar earned by the company is translated into profits.

Profit

The financial gain, particularly the difference between the amount earned and the amount spent in buying, operating, or producing something.

Sales Dollar

A measure of the revenue generated from the sale of goods or services, expressed in dollar amounts.

Revenue Accounts

Accounts that record the income a company generates from its business activities.