Author Question: Which of the following best describes the purpose of control activities? (Read 62 times)

Darron12 · **on:** Aug 21, 2022

Question 1

Which of the following best describes an entity's accounting information and communication system?
◦

Monitor transactions	Record and process transactions	Initiate transactions
Yes	Yes	Yes

◦

Monitor transactions	Record and process transactions	Initiate transactions
No	No	No

◦

Monitor transactions	Record and process transactions	Initiate transactions
Yes	No	No

◦

Monitor transactions	Record and process transactions	Initiate transactions
No	Yes	Yes

Question 2

Which of the following best describes the purpose of control activities?
◦ the actions, policies and procedures that reflect the overall attitudes of management
◦ the identification and analysis of risks relevant to the preparation of financial statements
◦ the policies and procedures that help ensure that necessary actions are taken to address risks to the achievement of the entity's objectives
◦ activities that deal with the ongoing assessment of the quality of internal control by management

mgranuc · **Reply #1 on:** Aug 21, 2022

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