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WorksheetsModule 21: Review
Total questions: 8
Worksheet time: 4mins
Fiscal responsibility requires the establishment of internal controls that include organizational processes and procedures to verify which of the following features of the accounting data and management information?
integrity
accuracy
reliability
all of the above
What is an essential internal control that prevents or detects errors and irregularities by separating the responsibilities for initiating, processing, and recording of financial transactions and custody of related asset between two or more competent and qualified individuals?
reporting of fraudulent activities
segregation of duties
reconciliation
cost transfer
What documents should be retained related to a P-14A?
formal offer letter & P-14A
any emails from the employee
Each month leave should be submitted by the 16th. What webreport will give you the information related to leave submission?
Leave Entry Verification
Leave Comp Days Remaining
Leave Balances by Organization
In Microstrategy, to retain your changes to a report to run again at a later time you should...
select to download the report to Excel so you know what features to drag and drop of the menu next month
select subscribe to History List and follow the directions provided
In Microstrategy you can customize your reports with colors and fonts to make your report easier to read.
True
False
Should the monthly review of purchasing transactions detect items needing correction, how should the corrections be completed. (REVIEW)
A journal entry or cost transfer should be prepared in a timely manner with adequate documentation, justification and approvals.
An email to OSP can move the funding to the correct fund.
A labor redistribution can properly align funding and no justification is needed.
Policy 3100: Fiscal Responsibility requires the establishment of internal controls that include organizational processes and procedures to verify the integrity, accuracy, and reliability of accounting data and other management information. One of the most important internal controls to detect fraud, errors, and irregularities is the after-the-fact review of financial transactions. This is called _________________.
reconciliation
segregation of duties
audit
compliance
