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Author Question: Which component of the ERM framework is best described here: Internal and external events affecting ... (Read 47 times)

kfurse

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on: Jul 5, 2018
Which component of the ERM framework is best described here: Internal and external events affecting achievement of an entity's objectives must be identified, distinguishing between risks and opportunities. Opportunities are channeled back to management's strategy or objective-setting processes.
 a. control activities
  b. event identification
  c. risk assessment
  d. risk response

Question 2

The August bank statement for Midway Company showed that the bank had collected a 5,000 note receivable for the company. Midway Company has not recorded the collection. On the bank reconciliation, the 5,000 should be ________.
 
  A) added to the balance per books
  B) deducted from the balance per books
  C) added to the balance per bank statement
  D) deducted from the balance per bank statement


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ms_sulzle

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Reply #1 on: Jul 5, 2018
Answer to Question 1

B

Answer to Question 2

A


kfurse

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Reply 2 on: Jul 5, 2018
Great answer, keep it coming :)

lcapri7

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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