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Alik [6]
2 years ago
7

The five elements of internal control include all of the following except risk assessment. control procedures. information and c

ommunication. None of these choices are correct.
Business
1 answer:
Paul [167]2 years ago
8 0

Here, the five elements include all of the following except- None of these choices are correct

<h3><u>What are the five elements of internal control ?</u></h3>

Different internal control systems function with varying degrees of efficacy. A judgment on an internal control system's effectiveness is made after evaluating if each of the five components -

  • Control Environment-The tone of an institution is defined by the control environment created by the organization's management, which also has an impact on the individuals who work there.
  • Risk Assessment-Every entity must evaluate the many risks it confronts from both internal and external sources. Setting up objectives that are internally consistent and related at various levels is a prerequisite for risk assessment.
  • Control Activities-The rules and practices that guarantee management directions are followed are known as control activities. They aid in ensuring that the required steps are made to address risks preventing the entity from achieving its goals.
  • Information and Communication-Relevant information must be located, recorded, and disseminated in a way and at a pace that makes it possible for recipients to fulfill their duties. Effective communication must flow up, down, and throughout the company in a wide sense.
  • Monitoring-Regular management and supervision tasks, as well as other actions staff members do while carrying out their jobs, constitute ongoing monitoring, which evaluates the effectiveness of internal control system performance.

To know more about the concept of internal control, refer to: brainly.com/question/15318839

#SPJ4

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A country sells more goods and services to foreign countries than it buys from them. It has Select one: a. a trade surplus and p
GREYUIT [131]

Answer:

a trade surplus and positive net exports. 

Explanation:

If a country sells more goods and services to foreign countries than it buys from them, it means the country's export is greater than its import. If export is greater than import, net exports (export- import ( would be postive.

Also, there would be a trade surplus.

 A trade surplus is when the value of export is greater than imports. 

I hope my answer helps you

5 0
3 years ago
Everything else held constant, when prices in the art market become more uncertain:______.
Ira Lisetskai [31]

the demand curve for the bonds shifts to the left and the interest rate rises

when the market is volatile , then the risk associated with the bond is very high . there is an inverse relation ship between risk and demand. when the risk is high, the demand for the bond decrease and the demand curve shifts to the left. also there is an inverse relation ship between the demand and interest rate. hence, when the demand decrease , the interest rate on the bond rises

the explanation for correct option because of an inverse relationship between the risk demand and demand interest rate, the interest rate cant fall when the demand curve shift to the left and when the risk is high , the demand curve shifts to the left only, not to the right .

Learn more about demand curve here.

brainly.com/question/28203108

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8 0
2 years ago
Which of the command systems would be the most appropriate when there are six victims at a mvc?
Olin [163]

Singular command. In a motor vehicle accident with multiple victims, the scene will be chaotic and having a single, clear leader will best help resolve the situation.

5 0
4 years ago
A(n) ____ is a professional communication that accompanies your résumé when you respond to a job advertisement or are simply int
Grace [21]
A cover letter is the professional communication .
6 0
3 years ago
Wilma’s Vegetable Market had the following transactions during 2017:
babymother [125]

Answer:

Journal Entries are as follows.

Explanation:

1.   Cash               $25,000 (Debit)

          Common Stock                              $ 25,000 (credit)

2.   Wages             $10,000  (debit)

               Cash                             $10,000 (credit)

3.  Land                         $ 50,000 (debit)

           Common Stock                        $50,000  (credit)

4.    Dividend Declared    $ 1000  (debit)

                    Dividend Payable            $ 1000 ( credit)

And

   Dividend Payable            $ 1000 ( debit)

                 Cash                           $ 1000 (credit)

5.        Cash               $ 3000  (debit)

              Long Term  Investment            $ 3000 (credit)

6.     Cash                    $ 20,000  (debit)

                Sales                        $ 20,000        ( credit)

7.       Inventory           $2000 (debit)

            Cash                      $ 2000  (credit)

8.      Investment                 $ 6000 ( debit)

               Cash                                             $ 6000 (credit)

9.  Bonds Payable                   $ 10,000  (debit)

                 Discount                             $ 1000 (credit) ( if there's any)

                  Common Stock               $ 9,000 ( credit ) ( in case of discount)

10.    Notes Payable                             $ 10,000  (debit)

Interest on Notes Payable                    $ 1,000 (debit) ( suppose there's interest of $ 1000 on $ 10,000 Notes Payable)

                         Cash                                                    $ 11,000 (credit)

4 0
3 years ago
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