Chapter 7-1 - Chapter 7-1 1. Which of the following is not...

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Chapter 7-1 1. Which of the following is not an element of the fraud triangle? Rationalization. Segregation of duties. Financial pressure. Opportunity. 2. Internal control is used in a business to enhance the accuracy and reliability of its accounting records and to: safeguard its assets. prevent fraud. produce correct financial statements. deter employee dishonesty. 3. The principles of internal control do not include: financial performance measures. establishment of responsibility. documentation procedures. independent internal verification. 4. Physical controls do not include: bank safety deposit boxes for important papers. independent bank reconciliations. locked warehouses for inventories. safes and vaults to store cash. 5. Which of the following was not a result of the Sarbanes-Oxley Act? Corporate executives and board of directors must ensure that controls are reliable and
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effective, and they can be fined or imprisoned for failure to do so. The Public Company Accounting Oversight Board was created to establish auditing
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Chapter 7-1 - Chapter 7-1 1. Which of the following is not...

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