Homework Answers
Bank reconciliation is an example of an internal control in the accounting information system. Bank reconciliation helps in checking the payments and receipts recorded by the company with the bank statements. If any receipt and payment which is recorded by the company is missing in the bank statement, red flag will be triggered in this case.
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8. Multiple choice questions (high context). The multiple choice questions presented in Question 2 are "low...
QUESTION5 MULTIPLE CHOICE QUESTIONS This question consists of five (5) multiple-choice questions. Only one option for...
QUESTION5 MULTIPLE CHOICE QUESTIONS This question consists of five (5) multiple-choice questions. Only one option for each question is correct. Indicate the chosen option in your exam script next to the question number in brackets, for example, Question 6 (c). 1 The one underlying assumption for financial statements is: (b) verifiability (c) timeliness (d) going concem (e) understandability 2. Inventory with a cost price of R1 000 was sold for cash R2 100. Which one of the following options illustrates...
Part 1: Multiple-choice questions (2 points each) - Which of the following steps or processes in...
Part 1: Multiple-choice questions (2 points each) - Which of the following steps or processes in aerobic respiration DIRECTLY consumes molecular oxygen (O2)? a. Glycolysis. b. Oxidative decarboxylation of pyruvate. c. The citric acid cycle. d. Oxidative phosphorylation. Beta-oxidation. 2- Gluconeogenesis is a(n) pathway. a condensation. b. catabolic c.) anabolic d. amphibolic e. photosynthetic 3. Because it is a degradative pathway that also generates biosynthetic precursors, the citric acid cycle is an) pathway. a. condensation. b) catabolic c. anabolic d....
Multiple Choice Questions!! Please choose the correct answers wisely. 1) During the audit the independent auditor...
Multiple Choice Questions!! Please choose the correct answers wisely. 1) During the audit the independent auditor identified the existence of a weakness in the client's internal control and communicated this finding in writing to the client's senior management and those charged with governance. The auditor should : a) Consider the weakness a scope limitation and therefore disclaim an opinion. b) Suspend all audit activities pending directions from the client's audit committee. c) Withdraw from the engagement. d) Consider the effects...
Must 11 quick multiple choice!! Employee theft and fraud result in losses because which of the...
Must 11 quick multiple choice!!
Employee theft and fraud result in losses because which of the following components of internal control is NOT followed? O a Control activities b. Clearly defined authority c. Information and communication 2 3 Oo d. Risk assessment Problem #2 of 11 1 2 Management's reporting objectives apply to a nonfinancial reporting, b. external financial reporting. c. internal financial reporting, d. All of these choices are correct. 3 0 1 2 Operations objectives ensure the effectiveness...
Answer ALL questions. WIE S (20 MARKS) QUESTION 1 MULTIPLE CHOICE REQUIRED For each of the...
Answer ALL questions. WIE S (20 MARKS) QUESTION 1 MULTIPLE CHOICE REQUIRED For each of the questions below write down only the letter of the most appropriate answer e.g. 1.11 C. Note: Calculations must not be shown in your answer book. Which one of the following statements is false? The financial result of an enterprise is a measure of the profit or loss that the enterprise made over a certain period of time. Expenses decrease economic benefits to a business...
MULTIPLE CHOICE [20 MARKS] Answer ALL questions. QUESTION ONE REQUIRED For each of the questions below write down o...
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CHAPTER REVIEW QUESTIONS/EXERCISES True/False 1. True or False? In the corporate context, microblogging entails sendin 2....
CHAPTER REVIEW QUESTIONS/EXERCISES True/False 1. True or False? In the corporate context, microblogging entails sendin 2. True or False? Popular devices like the iPad, Samsung Galaxy Android tablet 3. True or False? Quite a few risks need to be messages to apprise colleagues of recent developments in the dail y routine many types of smartphones are already capable of accessing company in customized intranet apps. resolved when approaching intranet security concerning mobile devices. True or False? Mobile devices accessing enterprise...
AS 3; Answer the 4 multiple choice questions and write a paragraph explain your selected answer....
AS 3; Answer the 4 multiple choice questions and write a paragraph explain your selected answer. Multiple Choice Chapter 6-7 Required/ Graded Points: 3 1. The act of oversight and direction for an organization is referred to as A) corporate lawmaking. B) centralized control. C) organizational direction. D) establishing norms. E) governance. 2. Which analytical tool determines the relative attractiveness of various strategies based on the extent to which key external and internal critical success factors are capitalized upon or...
5-1 -2 -4 545. Multiple Choice Questions Select the best answer for each of the following...
5-1 -2 -4 545. Multiple Choice Questions Select the best answer for each of the following questions. Explain the reasons for your selection a. Which of the following is not a financial statement assertion made by management? (1) Existence of recorded assets and liabilities. (2) Completeness of recorded assets and liabilities. (3) Valuation of assets and liabilities. (4) Effectiveness of internal control b. Which of the following business characteristics is not indicative of high inherent risk? (1) Operating results that...
Financial Accounting questions multiple choice about the chapter ( Cash & Investments ) 1) On September...
Financial Accounting questions multiple choice about the chapter ( Cash & Investments ) 1) On September 30, 20x6, Riches Inc. made three investments: 1221 shares of Wendle Inc., 4175 shares of Sam International, and 823 shares of Hinter Inc. The shares of Wendle Inc. and Hinter Inc. are classified as FVTPL and the shares of Sam International are classified as FVTOCI. The market price per share is as follows: Wendle Inc. Sam International Hinter Inc. Sept. 30, x6 $12.85 $5.73...
QUESTION5 MULTIPLE CHOICE QUESTIONS This question consists of five (5) multiple-choice questions. Only one option for each question is correct. Indicate the chosen option in your exam script next to the question number in brackets, for example, Question 6 (c). 1 The one underlying assumption for financial statements is: (b) verifiability (c) timeliness (d) going concem (e) understandability 2. Inventory with a cost price of R1 000 was sold for cash R2 100. Which one of the following options illustrates...
Part 1: Multiple-choice questions (2 points each) - Which of the following steps or processes in aerobic respiration DIRECTLY consumes molecular oxygen (O2)? a. Glycolysis. b. Oxidative decarboxylation of pyruvate. c. The citric acid cycle. d. Oxidative phosphorylation. Beta-oxidation. 2- Gluconeogenesis is a(n) pathway. a condensation. b. catabolic c.) anabolic d. amphibolic e. photosynthetic 3. Because it is a degradative pathway that also generates biosynthetic precursors, the citric acid cycle is an) pathway. a. condensation. b) catabolic c. anabolic d....
Must 11 quick multiple choice!!
Employee theft and fraud result in losses because which of the following components of internal control is NOT followed? O a Control activities b. Clearly defined authority c. Information and communication 2 3 Oo d. Risk assessment Problem #2 of 11 1 2 Management's reporting objectives apply to a nonfinancial reporting, b. external financial reporting. c. internal financial reporting, d. All of these choices are correct. 3 0 1 2 Operations objectives ensure the effectiveness...
Answer ALL questions. WIE S (20 MARKS) QUESTION 1 MULTIPLE CHOICE REQUIRED For each of the questions below write down only the letter of the most appropriate answer e.g. 1.11 C. Note: Calculations must not be shown in your answer book. Which one of the following statements is false? The financial result of an enterprise is a measure of the profit or loss that the enterprise made over a certain period of time. Expenses decrease economic benefits to a business...
MULTIPLE CHOICE [20 MARKS] Answer ALL questions. QUESTION ONE REQUIRED For each of the questions below write down only the letter of the most appropriate ane eg. 1.11 C. Note: Calculations must not be shown in your answer book. are items that may be included as part of Trade and other receivables in the А balance sheet Trade debtors; Accrued expenses; Income received in advance Trade creditors; Accrued expenses; Income received in advance Trade debtors; Income received in advance; Prepaid...
CHAPTER REVIEW QUESTIONS/EXERCISES True/False 1. True or False? In the corporate context, microblogging entails sendin 2. True or False? Popular devices like the iPad, Samsung Galaxy Android tablet 3. True or False? Quite a few risks need to be messages to apprise colleagues of recent developments in the dail y routine many types of smartphones are already capable of accessing company in customized intranet apps. resolved when approaching intranet security concerning mobile devices. True or False? Mobile devices accessing enterprise...
5-1 -2 -4 545. Multiple Choice Questions Select the best answer for each of the following questions. Explain the reasons for your selection a. Which of the following is not a financial statement assertion made by management? (1) Existence of recorded assets and liabilities. (2) Completeness of recorded assets and liabilities. (3) Valuation of assets and liabilities. (4) Effectiveness of internal control b. Which of the following business characteristics is not indicative of high inherent risk? (1) Operating results that...
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