7 - 1. 2. 3. 4. 5. Which of the following is not an element...

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1. Which of the following is not an element of the fraud triangle? A. Rationaliza tion. B. Financial pressure. C. Segregation of duties. D. Opportunity. 2. Internal control is used in a business to enhance the accuracy and reliability of its accounting records and to: A. safeguard its assets. B. prevent fraud. C. produce correct financial statements. D. deter employee dishonesty. 3. The principles of internal control do not include: A. establishment of responsibility. B. documentation procedures. C. financial performance measures. D. independent internal verification. 4. Physical controls do not include: A. safes and vaults to store cash. B. independent bank reconciliations. C. locked warehouses for inventories. D. bank safety deposit boxes for important papers. 5. Which of the following was not a result of the Sarbanes-Oxley Act?
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A. Companies must file with the Internal Rev B. All publicly traded companies must maintain adequate i C. The Public Company Accounting Oversight Board was auditing standards and regulate auditor activity.
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This note was uploaded on 02/28/2012 for the course ACCT 460 taught by Professor Charley during the Spring '12 term at Aachen University of Applied Sciences.

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7 - 1. 2. 3. 4. 5. Which of the following is not an element...

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