As described in COSO, elements of a control environment might ...

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As described in COSO, elements of a control environment might include the following:
 a. commitment to the importance of control
  b. reward systems
  c. tone at the top of the organization
  d. all of the above

Question 2

Use the following information for DeltaCo for the year ended December 31, 2011 to answer the questions below. Assume no new common stock was issued during the year.
 
  Expenses for the year  700
  Net income 200
  Retained earnings, December 31, 2010 600
  Retained earnings, December 31, 2011 500
  Total shareholders' equity at December 31,2010 900
  Total assets at December 31, 2010 1,200
  Total assets at December 31, 2011 1,300
 
  1. What were the total revenues for the year?
  2. What was the dividend during the year?
  3. What were the total liabilities on the balance sheet at December 31, 2011?
  4. How much is contributed capital at December 31, 2011?

[harveenkau8139]

Answer to Question 1

D

Answer to Question 2

1. 900 = 700 + 200
2. 300 = 600 + 200 - 500
3. 400 = 1,300 - 900
4. 400 = 900 - 500