Question: 2. What are the five key components of internal control systems? Explain each 3. Controls can be classified into three different groups. What are they?

2. What are the five key components of internal control systems? Explain each 3. Controls can be classified into three different groups. What are they? Explain 4. How many levels are there at which control can be applied? What are they? 5. What are the management control systems? 6. What is management accounting? State few management accounting methods and what they control 7. Why are ethics important to a business? Explain the three key ways to control ethics within an organization 8. There are four main types of responsibility centers. What are they? Explain each 9. State the advantages and disadvantages of Return on Investment (ROI) 10. What is transfer pricing and what are the methods of transfer pricing?

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