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11.Which of the following control classifications does not fit with the others listed below?

a)preventative

b)detective

c)administrative

d)corrective

12.Which of the following is accomplished by corrective controls?

a)identify the cause of the problem

b)correct the resulting errors

c)modify the system to prevent future occurrences of the problem

d)All of the above are accomplished by corrective controls.

13.Duplicate checking of calculations is an example of a __________ control, and adherence to appropriate procedures to resubmit rejected transactions is an example of a __________ control.

a)corrective; detective

b)detective; corrective

c)preventive; corrective

d)detective; preventive

14.There are different types of internal controls available to an organization.  The type of controls that deters problems before they arise are called

a)detective controls.

b)corrective controls.

c)exposure controls.

d)preventive controls. 

15.Corrective controls remedy problems discovered with detective controls.  What is not a corrective control procedure?

a)identify the cause of a problem

b)deter problems before they arise

c)correct resulting errors or difficulties

d)modify the system so that future problems are minimized or eliminated

16.__________ controls are designed to make sure an organization's control environment is stable and well managed.

a)Application

b)Detective

c)General

d)Preventive

17.__________ controls  prevent, detect and correct transaction errors and fraud.

a)Application

b)Detective

c)General

d)Preventive

18.Which of the following federal laws incorporated the language of the AICPA about controls into a law applying to all registered companies?

a)Foreign Corrupt Practices Act of 1977

b)The Securities Exchange Act of 1934

c)Federal Corruption Prevention Act of 1987

d)The Securities Act of 1933

19.The primary purpose of the Foreign Corrupt Practices Act of 1977 was

a)to require corporations to maintain a good system of internal control.

b)to prevent the bribery of foreign officials by American companies.

c)to require the reporting of any material fraud by a business.

d)All of the above are required by the act.

20.Congress passed this federal law for the purpose of preventing financial statement fraud, to make financial reports more transparent and to strengthen the internal control of public companies.

a)Foreign Corrupt Practices Act of 1977

b)The Securities Exchange Act of 1934

c)The Sarbanes-Oxley Act of 2002

d)The Control Provision of 1998

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