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Match the description in the right column with the internal control method in the left column.

	Answer		Description
1. Control Environment	B?		a. A cost/benefit/risk analysis is ordered before a decision is made to use a dangerous chemical in production.
2. Risk Assessment	A?		b. Two people are assigned to independently review a payroll report to watch for fraud.
3. Control Activities			c. A weekly report of defective material is sent to all plant managers.
4. Info/Communication	C?		d. The CEO believes in the philosophy that tight controls on each aspect of the business can save a company thousands of dollars.
5. Monitoring	E?		e. The factory manager is responsible for walking the factory floor daily to determine how internal controls can be improved.

Match the description in the right column with the information characteristic in the left column. Place the answer in the answer column for each characteristic.

	Answer		Description
6. Relevant			a. The report was carefully designed so that the data contained on the report became useful information to the reader
7. Accessible			b. The manager was working one weekend and needed to find some information about production requests for a certain customer. He was able to find the report on the companys network.
8. Verifiable			c. The data on a report was checked by two clerks working independently
9. Complete			d. An accounts receivable aging report includes all required customer information
10. Reliable			e. The information came from the IT department which has no vested interest in the decision that is made with the information
11. Understandable			f. An accounts receivable aging report was created so it is not difficult to interpret
12.Timely			g. An accounts receivable aging report was received before the credit manager had to make a decision whether to extend customer credit

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