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chap7 - Accounting 301 reeves,warren,duchac 10e quiz...

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1. Which of the following in not a requirement of or result of the Sarbanes-Oxley Act of 2002? c. Eliminate auditor reporting of a company's internal controls. 2. The Internal Control—Integrated Framework was issued by the Committee Sponsoring Organizations and provides a c. framework that is the widely accepted standard by which companies design analyze and evaluate internal controls. 3. All of the following are reasons the Congress passed the Sarbanes-Oxley Act of 2002 except: d. to apply to privately held companies. 4. Which of the following is not an element of internal control? b. Sound marketing plan 5. A consequence of lack of separation of duties is that b. operations become more inefficient. 6. If the same person orders supplies, verifies the receipts of the supplies, and pays the supplier, which of the following is not a possible negative result? b. Decreased employee training. 7. Which one of the following below reflects a weak internal control system?
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