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Question 12
The importance to the accounting profession of the Sarbanes-
Oxely Act is that
Question 13
Control activities under SAS 109/COSO include
Question 14
Control risk is
Question 15
The most cost-effective type of internal control is
Question 16
Which of the following suggests a weakness in the internal control
environment?
Question 17
Tests of controls include
Question 18
Which of the following taxes are included in the total income tax
expense of a corporation reported on its Federal tax return?
Question 19
Which of the following items are not included in the financial
statement income tax note effective tax rate reconciliation?
Question 20
Paint, Inc., a domestic corporation, owns 100% of Blue, Ltd., a
foreign corporation and Yellow, Inc., a domestic corporation.
Paint also owns 40% of Green, Inc., a domestic corporation. Paint
receives no distributions from any of these corporations. Which of
these entities' net income are included in Paint's income statement
for current year financial reporting purposes?
Question 21
Hot, Inc.'s primary competitor is Cold, Inc. When comparing
relative deferred tax asset and liability accounts with Cold, which
of the following should Hot do?
Question 22
Music, Inc., a domestic corporation, owns 100% of Vinyl, Ltd., a
foreign corporation and Digital, Inc., a domestic corporation.
Music also owns 12% of Record, Inc., a domestic corporation.
Music receives no distributions from any of these corporations.