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3 years ago

Internal control systems are:________.

2 answers:

4 0

Answer: Internal control system are required by Sarbanes-Oxley (SOX) to be documented and certified if the company's stock is traded on an exchange (a public company).

Explanation:

Internal controls are the procedures mechanisms and rules implemented by a business to ensure the integrity of its accounting and financial information, promote accountability, and also prevent fraud.

Besides complying with regulations and law and hindering employees from commiting fraud or stealing assets, internal controls can improve operational efficiency through the improvement in the timeliness and accuracy of financial reporting.

Internal controls are a vital business function for every company in the United States since the accounting scandals that occurred in the early 2000s. The Sarbanes Act of 2002 was to improve accuracy of corporate disclosures and protect investors from fraudulent activities.

Luda [366]3 years ago

4 0

Answer:

The answer is A.

Explanation:

Internal control systems are required by Sarbanes-Oxley (SOX) to be documented and licensed if the company's stock is traded on an exchange (a public company).

Internal control system consists of 5 key elements:

Control environment t

Risk assessment

Control activities

Information and communication

Monitoring

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The Federal Deposit Insurance Corporation (FDIC) insures deposits up to $250,000 in.

san4es73 [151]

Answer:

commercial banks and thrift institutions

Explanation:

The Federal Deposit Insurance Corporation was established in 1933 and its sole aim is to ensure deposits. The deposits that are insured by the FDIC are from $250,000 and above deposits of various accounts (savings, checking, etc), certificates of deposits, etc.

Cheers.

4 0

3 years ago

Relatively high paid workers are reluctant to shirk because

OlgaM077 [116]

High paid workers are reluctant to shrink because the unemployment rate is very high so if you leave your position you may not find another that is equally as good or better. That is why high paid workers do not shrink.

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3 years ago

Ben wants to file a complaint against a financial service company to report inappropriate use of the money he gave them to inves

icang [17]

In this case, Ben should file complaints to: Consumer Financial Protection Bureau
The Consumer Financial Protection Bureau is federal agency of the United States that is created to protect the customers from potential malpractices within the private financial sectors (including companies who offer financial investing services)

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4 years ago

Consider the actions of the Fed in response to the Great Recession. Which of the following scenarios should the Fed be worried a

Naily [24]

Answer:

The correct answer is letter "B": Increasing the money supply could decrease aggregate demand.

Explanation:

The Aggregate Demand is a macroeconomic term describing the total demand in an economy for all goods and services at any given price level in a given period. As such, aggregate demand is the demand for the gross domestic product of a country. The relationship between the price level and the goods and services provided is inversely proportional which implies that the price level rises, the goods and services will have less demand and vice versa.

In that case, if the money supply increases so will the price levels but the goods and services provided will see a dropdown so will the aggregate demand.

8 0

3 years ago

Read 2 more answers

Which of the following is an internet tool that can notify you when people are talking about your company

Liula [17]

Answer:

Google Alerts

Explanation:

Google alerts is a notification services provided by google in order to detect how much a certain word or terms were being said on the web.

If you use Google alerts service, You can set up the name of your product or company as the key word and the alert will send you notification in case your product or company is mentioned in online conversation.

This service can be used to measure how well your company's reputation is within online communities.

6 0

3 years ago