Author Question: ____ is a process that evaluates the quality of internal control performance over time. a. Control ... (Read 150 times)

ETearle · **on:** Jul 5, 2018

____ is a process that evaluates the quality of internal control performance over time.
a. Control environment
b. Risk assessment
c. Control activities
d. Monitoring

Question 2

Indicate with an X whether each item is an asset, liability or shareholders' equity account. There is only one correct answer for each.

Item: Asset Liability Shareholders' equity
1. Dividends
2. Accounts receivable
3. Contributed capital
4. Note payable
5. Wages expense
6. Wages payable
7. Prepaid insurance
8. Insurance expense
9. Accounts payable
10. Retained earnings

joewallace · **Reply #1 on:** Jul 5, 2018

Answer to Question 1

D

Answer to Question 2

Item: Asset Liability Shareholders' equity
1. Dividends X
2. Accounts receivable X
3. Contributed capital X
4. Note payable X
5. Wages expense X
6. Wages payable X
7. Prepaid insurance X
8. Insurance expense X
9. Accounts payable X
10. Retained earnings X