13. (a) Define internal control (b) Explain the major concepts included in the definition of...
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Accounting
13. (a) Define internal control
(b) Explain the major concepts included in the definition of internal control.
(c) List and describe the five components of internal control.
(d) Identify the major limitations of internal control.
14. Define:
a. Record counts
b. Limit test
c. Validity test
d. Hash totals
15. Discuss the advantages to a CPAs documenting internal control using:
(1) An internal control questionnaire
(2) A written narrative
(3) A flowchart
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