Internal Controls Normally Include Procedures Designed to Provide Reasonable Assurance

question 94

Multiple Choice

Internal controls normally include procedures designed to provide reasonable assurance that:

• A)employees act with integrity when performing their assigned tasks.
• B)transactions are executed in accordance with management's authorization.
• C)decision processes leading to management's authorization of transactions are sound.
• D)collusive activities would be detected by segregation of employee duties.

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Definitions:

Random Sample

A sample drawn in such a way that every member of the population has an equal chance of being selected, leading to a representative subset.

"Hook Up" Culture

A societal pattern that accepts and encourages casual sexual encounters, including one-night stands and other related activity, without necessarily including emotional bonding or long-term commitment.

Random Sampling

A method of selecting a sample from a population in such a way that every individual has an equal probability of being chosen.

Representative Sample

A representative sample is a subset of a population that accurately reflects the members of the entire population.