This topic contains a solution. Click here to go to the answer

Author Question: It is possible, under certain circumstances, for financial statements to correctly reflect GAAP or ... (Read 118 times)

am7272

  • Full Member
  • ***
  • Posts: 167

Question 1

It is possible for management to design an ideal and effective system of internal controls for example over the counting of the physical inventory.
◦ true
◦ false

Question 2

It is possible, under certain circumstances, for financial statements to correctly reflect GAAP or IFRS even if internal controls over financial reporting are inadequate.
◦ true
◦ false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by am7272 on Aug 21, 2022

hiyayyay

  • Full Member
  • ***
  • Posts: 204
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 56% of students answer this correctly




am7272

  • Member
  • Posts: 167
Reply 2 on: Aug 21, 2022
YES! Correct, THANKS for helping me on my review


triiciiaa

  • Member
  • Posts: 349
Reply 3 on: Yesterday
Excellent

 

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Did you know?

On average, the stomach produces 2 L of hydrochloric acid per day.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

For a complete list of videos, visit our video library