HomeworkLib
Question

nternal controls are crucial to global companies because of all of the following risks except: Multiple...

nternal controls are crucial to global companies because of all of the following risks except:

Multiple Choice

  • Possible misstatement of financial information.

  • Possible fraud.

  • Controls are significantly different across the globe.

  • Additional costs of inefficient operations.

  • Management's inability to certify the effectiveness of the controls.

business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

The answer is Option C. Controls are significantly different across the globe.

Internal Controls are crucial not because of controls are significantly different across the globe. It is because of the risk of Possible misstatement of financial information, Possible Fraud, Additional costs of inefficient operation and Management's inability to certify the effectiveness of the controls.

0 0
Add a comment
Know the answer?
Add Answer to:
nternal controls are crucial to global companies because of all of the following risks except: Multiple...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • All of the following are arguments to have less antitrust enforcement except for Multiple Choice O...

    All of the following are arguments to have less antitrust enforcement except for Multiple Choice O Global competitors put pressure on industries O Companies become large because compe consumer demand. Ο οισοροίου ο Oligopolies can lead to less output and higher There is always a chance that new innovators will replace oligopoly

  • 4-1 Discussion: Internal Controls Over Assets Companies lose millions of dollars each year through employee theft...

    4-1 Discussion: Internal Controls Over Assets Companies lose millions of dollars each year through employee theft and fraud. To prevent this, internal controls are implemented. We will examine the types of controls companies use, and discuss what happens when these controls are missing. Consider this scenario: You own a small business with 25 employees. In your initial post, explain which internal controls you would use to protect your assets and ensure that your financial statements are accurate. In your responses...

  • Review the Audit report (found in the 10-K) for the following two companies. Highlight or summarize...

    Review the Audit report (found in the 10-K) for the following two companies. Highlight or summarize differences between the reports (other than the name of Company, Audit Firm, Financial statement period covered). Note: 1. Each Company may have two audit reports (one opinion on financial statements and one for audit of internal controls) or the two opinions may be combined into one report. 2. You are not required to review the entire 10-K. Find the audit report in the 10-K...

  • Must 11 quick multiple choice!! Employee theft and fraud result in losses because which of the...

    Must 11 quick multiple choice!! Employee theft and fraud result in losses because which of the following components of internal control is NOT followed? O a Control activities b. Clearly defined authority c. Information and communication 2 3 Oo d. Risk assessment Problem #2 of 11 1 2 Management's reporting objectives apply to a nonfinancial reporting, b. external financial reporting. c. internal financial reporting, d. All of these choices are correct. 3 0 1 2 Operations objectives ensure the effectiveness...

  • case study apple iPhone. There are risks and rewards for all in a global economy. The...

    case study apple iPhone. There are risks and rewards for all in a global economy. The globalization of human capital results in a range of winners and losers around the world: companies and their stockholders, consumers, contractors, firms up and down the supply chain, employed people, and unemployed people, as well as their economies. In February 2011, President Obama asked Apple's Steve Jobs why Apple could not bring back all the jobs it used to provide in the United States....

  • Which of the following matters would an auditor most likely consider to be a significant deficiency to be communicated to the audit committee

    1. Which of the following matters would an auditor most likely consider to be a significant deficiency to be communicated to the audit committee? A. Management's failure to renegotiate unfavorable long-term purchase commitments.B. Recurring operating losses that may indicate going concern problems.C. Evidence of a lack of objectivity by those responsible for accounting decisions.D. Management's current plans to reduce its ownership equity in the entity. 2. After obtaining an understanding of internal control and arriving at a preliminary assessed level...

  • A MANAGER'S CHALLENGE A Turnaround at Sony is in the Works Why is managing the global...

    A MANAGER'S CHALLENGE A Turnaround at Sony is in the Works Why is managing the global iPod, smartphones, and the Wii game environment so complex today? console that better met customer Sony, the Japanese electronics maker, needs than Sony's old-fashioned was renowned in the 1990s for using and expensive products. Finally, all its engineering prowess to develop these companies were working to blockbuster new products such as the reduce manufacturing costs, and Sony Walkman, Trinitron TV, and PlayStation. lagged behind...

  • Companies often face a situation in which there is a business opportunity or need that requires...

    Companies often face a situation in which there is a business opportunity or need that requires more resources than are available internally. When this happens the company may decide to pursue the opportunity by considering sourcing solutions. PPI finds itself in this situation. PPI is pursuing three new IT projects designed to improve business operations, but has neither the staffing nor the expertise to handle them all in-house. They will have to rely on another division of PPI or an...

  • 5-1 -2 -4 545. Multiple Choice Questions Select the best answer for each of the following...

    5-1 -2 -4 545. Multiple Choice Questions Select the best answer for each of the following questions. Explain the reasons for your selection a. Which of the following is not a financial statement assertion made by management? (1) Existence of recorded assets and liabilities. (2) Completeness of recorded assets and liabilities. (3) Valuation of assets and liabilities. (4) Effectiveness of internal control b. Which of the following business characteristics is not indicative of high inherent risk? (1) Operating results that...

  • What was Novartis ́ main challenge in managing talent in China? Novartis case . Global Talent...

    What was Novartis ́ main challenge in managing talent in China? Novartis case . Global Talent Management at Novartis I do not know how to post the PDF case? cloud you tell me how to give the case Sourcing Talent Globally The company was actively involved in sourcing talent from increasingly dispersed locations. Managers were encouraged to keep an updated list of leadership talent. In addition, the company 7 708-486 Global Talent Management at Novartis had recently expanded its hiring...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT