Requirements 1. 2. Define internal control. The system of internal control must be tested by external auditors. What law or rule requires this testing? 3. Identify each item as either a strength or a weakness in internal control, and give your reason for each answer. I x
Requirements 1. 2. Define internal control. The system of internal control must be tested by external auditors. What law or rule requires this testing? 3. Identify each item as either a strength or a weakness in internal control, and give your reason for each answer. I x
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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fill all requirements please?
![The following situations suggest a strength or a weakness in internal control.
(Click the icon to view the situations.)
Read the requirements.
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Requirement 1. Define internal control.
Internal control is [dropdown menu] and all the related measures designed to do the following:
(Only complete the necessary input fields.)
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Transcribed Image Text:The following situations suggest a strength or a weakness in internal control.
(Click the icon to view the situations.)
Read the requirements.
---
Requirement 1. Define internal control.
Internal control is [dropdown menu] and all the related measures designed to do the following:
(Only complete the necessary input fields.)
[Text Input Field]
[Text Input Field]
[Text Input Field]
[Text Input Field]
[Text Input Field]
[Text Input Field]
Transcribed Image Text:### Requirements
1. **Define internal control.**
2. **The system of internal control must be tested by external auditors. What law or rule requires this testing?**
3. **Identify each item as either a strength or a weakness in internal control, and give your reason for each answer.**
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- **Print:** Initiates the print command.
- **Done:** Concludes the task or submission.
This section provides guidelines for understanding and assessing internal control systems within an organization. The steps include defining 'internal control,' identifying applicable legal requirements, and evaluating various elements of internal control as strengths or weaknesses. Each answer should be justified with clear reasoning.
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