22) Authorizations can be either general or specific. Which of the following is notan example of a general authorization?A) Automatic reorder points for raw materials inventoryB) A sales manager's authorization for a sales returnC) Credit limits for various classes of customersD) A sales price list for merchandiseAnswer: B23) Which of the following is correct with respect to the design and use of business documents?24) Which of the following best describes the purpose of control activities?25) Which of the following deal with ongoing or periodic assessment of the quality of internal control by management?26) An audit procedure that would most likely be used by an auditor in performing tests of control procedures in which the segregation of functions and that leaves no "audit" trail is:A) inspection.B) observation.C) reperformance.D) reconciliation.Answer: B27) Internal controls normally include procedures designed to provide reasonable assurance that:
28) Which of the following is notone of the subcomponents of the control environment?
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- Spring '10
- Auditing, Vize Sonrası, After Midterm