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ACC-400-final-exam-questionsACC-400-final-exam-questions.docx ACC-400-final-exam-questions.docx ACC-400-final-exam-questions.docx ACC-400-final-exam-questions.docx ACC-400-final-exam-questions.docx ACC-400-final-exam-questions.docx

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Final ExamACC400Please submit your answer to each of the following questions in an Excel spreadsheet numbered 1 through 40.1.A traditional definition of internal control specifically includes all of the following features excepta.adherence to prescribed managerial policies.b.promotion of operational efficiency.c.reliability of accounting data.d.insistence that employees not take earned vacations.2.A consequence of separation of duties is thata.theft by employees becomes impossible.b.operations become extremely inefficient because of constant training of employees.c.more employees will need to be bonded.d.theft is still possible when several employees are involved.3.A very small company would have the most difficulty in implementing which of the following internal control activities?a.Separation of dutiesb.Limited access to assetsc.Periodic independent verificationd.Sound personnel procedures4.The principle of establishing responsibility does not person being responsible for one task.b.authorization of transactions.c.independent internal verification.d.approval of transactions.5.The control principle related to not having the same person authorize and pay for goods is known asa.establishment of responsibility.b.independent internal verification.c.separation of duties.d.rotation of duties.6.Two individuals at a retail store work the same cash register. You eva

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