The concept of reasonable assurance suggests that
a. the cost of an internal control should be less than the benefit it provides
b. a well-designed system of internal controls will detect all fraudulent activity
c. the objectives achieved by an internal control system vary depending on the data processing method
d. the effectiveness of internal controls is a function of the industry environment
A
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What is the reason given for a relatively low emphasis on public disclosure of financial information in Japan?
A. Significant reliance on bank credit for financing B. Long-term cross-corporate ownership of stock C. Income is not viewed as a measure of corporate performance D. All of the above
Refer to the instruction above. Using the preference matrix (total weighted score) approach for selecting suppliers, which supplier should Steele select?
A) State B) Acme C) Either is acceptable—their preference matrix scores are the same. D) More information is needed to make this decision.