ACC 557 TUTOR Great Stories /acc557tutor.com ACC 557 TUTOR Great Stories /acc557tutor.com | Page 44

independent outside auditors must attest to the level of internal
control.
companies must develop sound internal controls over financial
reporting.
companies must continually assess the functionality of internal
controls.
6-
Multiple Choice Question 111
A deposit made by a company will appear on the bank statement
as a
debit.
credit.
debit memorandum.
credit memorandum.
7-
Multiple Choice Question 65
In large companies, the independent internal verification
procedure is often assigned to
computer operators.
management.
internal auditors.
outside CP
8-
Multiple Choice Question 67