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= preventive controls™

= preventive controls™

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which of the following describes preventive controls? (Several choices may be correct.) Expected to be 100% effective. O Easily verified as to whether the control has worked. O Designed to stop misstatement from occurring. O Applied to each transaction prior to entering transactions into the accounting system. Applied to each transaction after transactions have been processed. O Designed to detect fraud or errors that have occurred.
Transcribed Image Text:Which of the following describes preventive controls? (Several choices may be correct.) Expected to be 100% effective. O Easily verified as to whether the control has worked. O Designed to stop misstatement from occurring. O Applied to each transaction prior to entering transactions into the accounting system. Applied to each transaction after transactions have been processed. O Designed to detect fraud or errors that have occurred.
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