Which of the Following Is Not True About Internal Controls

question 118

Multiple Choice

Which of the following is not true about internal controls over the financial reporting process?

• A)The process is developed by management
• B)The process is designed to assure that the company maintains records in sufficient detail to record the transactions of the company to permit the preparation of financial statements
• C)The process is to demonstrate that the company spends its money and acquires and disposes of its assets in ways consistent with the wishes of management
• D)The process ensures that receipts and expenditures of the company are being made only in accordance with the directors of the company

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Definitions:

Oxidator

A chemical agent or substance that is capable of accepting electrons in a redox reaction, often leading to the oxidation of another substance.

Reducing Agent

A substance that donates electrons to another chemical species in a reaction, thereby reducing that species and oxidizing itself.

Respiration Rate

The number of breaths taken per minute, which is a vital sign of critical importance for assessing the general respiratory health of an individual.

Blood Concentration

The amount of a substance per unit volume of blood, reflecting the level of that substance in the circulatory system.