Multiple Choice
Ray has worked in the mailroom at MNG Corporation for five years, and is widely respected throughout the organization.Jon, the chief financial officer, started working at MNG six months ago after holding a similar position with one of MNG's competitors.Which of the following statements is most true?
A) Both Ray and Jon can help establish a strong control environment, but only Jon can effectively identify risks and suggest control activities.
B) Both Ray and Jon can effectively identify risks and suggest control activities, but only Ray can help establish a strong control environment.
C) Neither Ray nor Jon should participate in the development of an internal control plan.
D) Both Ray and Jon can influence most aspects of an internal control plan for MNG.
Correct Answer:

Verified
Correct Answer:
Verified
Q16: Consider the following partially completed risk/control matrix
Q17: A company's accountant was able to approve
Q18: Consider the following partially completed risk/control matrix
Q19: Internal control has four major purposes in
Q20: PRL Corporation's internal control plan is based
Q22: Internal control relates to an organization's achievement
Q23: Internal control has four major purposes in
Q24: Shawn is an accountant at LNT Corporation.He
Q25: Raj, an employee at TRS Corporation, was
Q26: Consider the following partially completed risk/control matrix