QUESTION 1 The objectives of internal control are to O a. provide control over "internal-use only" reports and employee internal conduct O b. prevent fraud, and promote the social interest of the company O c. provide reasonable assurance that assets are safeguarded and used for business purposes, financial reports are accurate, and laws and regulations are complied with d. control the internal organization of the accounting department personnel and equipment

That companies must follow the laws and regulations including company law, tax law and environmental protection regulations requires what category of internal control objectives? Financial reporting Effective operations. Compliance Government reporting

1. Which of the following is not an internal user? a. Creditor b. Department manager c. Controller d. Treasurer 2. Internal reports are generally a. aggregated. b. detailed. c. regulated. d. unreliable. 3. The reporting standard for external financialreports isa. industry-specific.b. company-specific.c. generally accepted accounting principles.d. department-specific. 4. A distinguishing feature of managerial accountingisa. external users.b. general-purpose reports.c. very detailed reports.d. quarterly and annual reports. 5. The job cost sheet does not showa. costs chargeable to a specific job.b. the total costs of a completed job.c. the unit cost of a completed job.d. the cost of goods sold. 6. Which one of the following best describes a jobcost sheet? a. It is a form used to record the costs chargeableto a specific job and to determine the total and unit costs of the completedjob.b. It is used to track manufacturing overhead coststo specific jobs.c. It is used by management to…

Under a system of good internal control, which of the following departments issues a voucher?   Question 41 options:   The accounts payable department   The shipping department   The purchasing department   The billing department