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Test 4 - View Attempt...

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Title: 4 Started: June 27, 2010 8:02 PM Submitted: June 27, 2010 8:59 PM Time spent: 00:56:25 Comments: Total score: 76/105 = 72.381% Total score adjusted by 0.0 Maximum possible score: 105 1. You must type the following statement in order to take this test: "I have not discussed this test with anyone in any way. I realize that if I discuss this test with anyone in any, I have violated the Honor Code. Violation of the Honor Code is cheating." Student Response: I have not discussed this test with anyone in any way. I realize that if I discuss this test with anyone in any, I have violated the Honor Code. Violation of the Honor Code is cheating. Score: 0/0 Comments: 2. Why is management's philosophy and operating style considered to be the most important component of the control environment? Student Response: Managements philosophy and style affects everything the organization does, from setting strategy, to conducting daily business, to influencing the organizations values, operating style and the decisions that are made. The more responsible managements philosophy and operating style and the more clearly they are communicated, the more likely employees will behave responsibly. Sample Correct Answer Management truly sets the tone for the control environment of a business. If top management takes good control seriously and makes this known to everyone in the organization, then employees down the line will tend to do likewise. Management's attitude toward risk taking and the assessment of risk before acting are indications. Willingness to manipulate performance measures or to encourage employees to do likewise is another indication of attitude. Finally, pressure on subordinates to achieve certain results regardless of the methods used can be a very persuasive indicator of problems. Management concerned about control will assess risk and act prudently, manipulation of performance measures will not be tolerated, and ethical behavior will be instilled in and required of employees. General Feedback: Management truly sets the tone for the control environment of a business. If top management takes good control seriously and makes this known to everyone in the organization, then employees down the line will tend to do likewise. Management's attitude toward risk taking and the assessment of risk before acting are indications. Willingness to manipulate performance measures or to encourage employees to do likewise is another indication of attitude. Finally, pressure on subordinates to achieve certain results regardless of the methods used can be a very persuasive indicator of problems. Management concerned about control will assess risk and act prudently, manipulation of performance measures will not be tolerated, and ethical behavior will be instilled in and required of employees.
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