IT Controls That the Auditor Might Expect to Find in the Long-Term

question 73

Multiple Choice

IT controls that the auditor might expect to find in the long-term and owner's equity process are

• A)Long-term debt is recorded when cash related to debt issues is entered
• B)increases in the common stock account and the additional paid in capital account are supported by decreases in either cash or assets
• C)deferred interest entries must be supported by information about the principle,interest rate,and origination date of the debt
• D)IT system restricts access to individuals authorized to input debt transactions and stock transactions
• E)Treasury stock transactions are reported to the board of directors
• F)both A and B
• G)both A and D
• H)both C and E

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Definitions:

Chronic Renal Failure

A long-term medical condition where the kidneys lose their ability to filter waste and excess fluids from the blood effectively.

Chronic Renal Failure

A long-term decline in kidney function, which can lead to the accumulation of waste products and fluid imbalances in the body.

Metabolic Alkalosis

A disturbance in the body's acid-base balance, resulting in an increased blood pH.

Hypokalemia

A condition characterized by an abnormally low level of potassium in the blood, which can affect muscle and heart function.