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MyLab Accounting with Pearson eText -- Access Card -- for Horngren's Accounting
11th Edition
ISBN: 9780133877571
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Textbook Question
Chapter 8, Problem E8.15E
Understanding internal control, components, procedures, and laws
Learning Objectives 1, 2, 3
Match the following terms with their definitions.
1. Internal control |
a. Two or more people working together to overcome internal controls. |
2. Control procedures |
b. Part of internal control that ensures resources are not wasted. |
3. Firewalls |
c. Requires companies to review internal control and take responsibility for the accuracy and completeness of their financial reports. |
4. Encryption |
d. Should be prenumbered to prevent theft and inefficiency. |
5. Environment |
e. Limits access to a local network. |
6. Information system |
f. Example: The person who opens the bank statement should not also be the person who is reconciling cash. |
7. Separation of duties |
h. Examination of a company's financial statements and accounting system by a trained accounting professional. |
8. Collusion |
g. Identification of uncertainties that may arise due to a company's products, services, or operations. |
9. Documents |
i. Without a sufficient one of these, information cannot properly be gathered and summarized. |
10. Audits |
j. The organization plan and all the related measures that safeguard assets, encourage employees to follow company policies, promote operational efficiently, and ensure accurate and reliable accounting data. |
11. Operational efficiency |
k. Component of internal control that helps ensure business goals are achieved. |
12. Risk assessment |
l. Rearranges data by a mathematical process. |
13. Sarbanes-Oxley Act |
m. To establish an effective one, a company's CEO and top managers must behave honorably to set a good example for employees. |
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Chapter 8 Solutions
MyLab Accounting with Pearson eText -- Access Card -- for Horngren's Accounting
Ch. 8 - Which of the following is not part of the...Ch. 8 - Prob. 2QCCh. 8 - Prob. 3QCCh. 8 - Prob. 4QCCh. 8 - Prob. 5QCCh. 8 - Prob. 6QCCh. 8 - Prob. 7QCCh. 8 - Prob. 8QCCh. 8 - Prob. 9QCCh. 8 - Prob. 10QC
Ch. 8 - Prob. 11QCCh. 8 - Prob. 1RQCh. 8 - Prob. 2RQCh. 8 - What are the five components of internal control?...Ch. 8 - Prob. 4RQCh. 8 - Prob. 5RQCh. 8 - Prob. 6RQCh. 8 - Prob. 7RQCh. 8 - Prob. 8RQCh. 8 - Prob. 9RQCh. 8 - What are the steps taken to ensure control over...Ch. 8 - Prob. 11RQCh. 8 - Prob. 12RQCh. 8 - Prob. 13RQCh. 8 - Prob. 14RQCh. 8 - Prob. 15RQCh. 8 - Prob. 16RQCh. 8 - Prob. 17RQCh. 8 - Prob. S8.6SECh. 8 - Prob. S8.7SECh. 8 - Prob. S8.8SECh. 8 - Prob. S8.9SECh. 8 - Prob. S8.10SECh. 8 - Prob. S8.11SECh. 8 - E8-13 Identifying internal controls Learning...Ch. 8 - Prob. E8.13ECh. 8 - Prob. E8.14ECh. 8 - Understanding internal control, components,...Ch. 8 - Prob. E8.16ECh. 8 - Prob. E8.17ECh. 8 - Prob. E8.18ECh. 8 - Prob. E8.19ECh. 8 - Prob. E8.20ECh. 8 - Prob. P8.21APGACh. 8 - Correcting internal control weakness Each of the...Ch. 8 - Prob. P8.23APGACh. 8 - Prob. P8.24APGACh. 8 - Prob. P8.25APGACh. 8 - Prob. P8.26APGACh. 8 - Prob. P8.27BPGBCh. 8 - Prob. P8.28APGACh. 8 - Prob. P8.29BPGBCh. 8 - Prob. P8.30BPGBCh. 8 - Prob. P8.31BPGBCh. 8 - Prob. P8.32BPGBCh. 8 - Prob. P8.33CPCh. 8 - Prob. P8.34PSCh. 8 - Prob. 8.1DCCh. 8 - Prob. 8.2DCCh. 8 - Prob. 8.1FCCh. 8 - Prob. 8.1FSC
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