Question: Question 1. (a) Give an example of a: Preventive control Detective control Corrective control (b) Which type do you think is the best type of

Question 1.

(a) Give an example of a:

Preventive control

Detective control

Corrective control

(b) Which type do you think is the best type of internal control to implement in a company? Why?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Question 1 The preventive controls within a company's internal control system: Question 1 options: Are controls put by the management to prevent problems from occurring Focus on management's...

Q:

Question 1 The preventive controls within a company's internal control system: Question 1 options: Are controls put by the management to prevent problems from occurring Focus on management's...

Q:

The following questions relate to Controls. Companies subject to Sarbanes Oxley are required to implement a recognized framework of internal control. U.S. based companies have adopted the COSO...

Q:

QUESTION 14 Preventive controls are techniques designed to eliminate fraud in the company. True False QUESTION 15 The decision to extend credit beyond the normal credit limit is an example of a,...

Q:

28-Alice generated sales of $82,000, $80,000, $81,000, and $77,000 for the past three weeks. Using a four-week moving average what is the forecast sales for the coming week? Group of answer choices...

Q:

QUESTION 1 What is the Implementation Gap? a. When managers implement the wrong strategies. b. When managers only do strategic planning. c. When managers only implement their favorite strategies. d....

Q:

Question 3 of 20 > - /1 IE ... View Policies Current Attempt in Progress If the tests of controls indicate certain controls are not as effective as the auditor originally believed, which of the...

Q:

QUESTION 1 1.Replications in experimental research are generally conducted to facilitate a. internal validity b. external validity c. internal reliability d. external reliability 2 points QUESTION 2...

Q:

Amazon versus ebay Industry and company overview Write a 200 400 word paragraph including general facts about the industry in which your compankes operate. Also summarize each company you selected...

Q:

QUESTION 20 Selection of the best alternative in the decision-making process depends on the following EXCEPT FOR: the accuracy of information gathered. your ingenuity in developing alternatives. the...

Q:

You are expected to answer the following questions for your report: 1. How should EU design change its organizational structure to improve communication between its NY and HK offices and with its...

Q:

The Utopian Coding Society (UCs)' is evaluating the how different programming languages handle pseudo-random number generation and very large values. You decided to contribute to this under- taking...

Q:

FTB Inc. has 1 million shares outstanding and a target capital structure consisting of 3 0 % debt. The interest rate on the debt is 8 % . Assume the risk - free rate is 5 % and the market risk...

Q:

The first scenario will be a Verbal Judo scenario in which your scenario follows the standard Verbal Judo interaction: You need to ask somebody to modify their behavior either to do something or to...

Q:

Explain the importance of competitive labor market and product market forces in compensation decisions. page 470

Q:

Describe the fundamental pay programs for recognizing employees contributions to the organizations success. page 503

Q:

Specify the relationship between job satisfaction and various forms of job withdrawal, and identify the major sources of job satisfaction in work contexts. page 437