09 Accounting Continuing Education Examination (Mianyang, Sichuan) Answers to Internal Control Norms of New Enterprises

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I. Multiple choice questions

1. The evolution of the definition of internal control has gone through several stages. The first stage is ().

A. Internal sealing stage

B. Internal control system stage

C. internal control structure stage

D. Internal control framework stage

Answer a

2. In order to ensure the independence of the audit, SOX Act stipulates that when an accounting firm provides audit services to the audit client, the term of office of the audit project partner (or the person who makes the final review of the audit project) as the person in charge of the audit project shall not exceed () years.

A. 1

B.3

C5

D. 10

Answer c

3. () is the enterprise to supervise and inspect the establishment and implementation of internal control, evaluate the effectiveness of internal control, find internal control defects, and improve them in time.

A. Internal environment

B. Control activities

C. Information and communication

D. Internal oversight

Answer d

4. Quantitative evaluation methods mainly include: probability technology, (), stress testing, sensitivity analysis, etc.

A. Collective discussion

B. Situation analysis

C. Questionnaire survey

D. benchmarking analysis

Answer b

The analytic option ACD belongs to qualitative analysis, not quantitative analysis.

5. The process of budget control includes ().

A. Preparation, verification, analysis, evaluation, rewards and punishments

B. Preparation, verification, implementation, evaluation, rewards and punishments

C. inspection, implementation, analysis, assessment, rewards and punishments

D. preparation, verification, implementation, analysis, evaluation, rewards and punishments

Answer d

6. In the process of fund payment, the correct process is ().

A. Payment application → payment approval → payment processing

B payment application → payment approval → payment review → payment processing.

C. Payment application → payment review → payment processing

D payment occurrence → payment approval → payment review → payment processing.

Answer b

7. Regarding the procurement method in procurement control, the following statement is wrong ().

A. The procurement of bulk commodities or services shall be conducted by bidding and a contract agreement shall be signed.

B. The procurement of general goods or services shall be conducted through bidding, and a contract agreement shall be signed.

C general goods or services can be purchased by inquiry or directional procurement, and a contract agreement can be signed.

D. Small and sporadic goods or services can be purchased directly.

Answer b

8. () is a process implemented by the board of directors, the board of supervisors, the managers and all employees to achieve control objectives.

A. Internal control

B. Internal management

C. Internal oversight

D. Internal accounting control

Answer a

9. The American Public Company Accounting Oversight Board is regulated by the US Securities and Exchange Commission, but it is not a government agency. Every member of the American Public Company Accounting Oversight Committee is a full-time independent service person. They shall not be employed by any institution or individual other than the Accounting Oversight Committee of American Public Companies, engage in any commercial activities, or obtain any benefits from accounting firms. The term of office is () years, and each member can serve two consecutive terms at most.

A.3

B.5

C. 10

D. 12

Answer b

10. The goal of internal control is ().

Absolute guarantee of fairness and legality of financial statements.

B. reasonably ensure the fairness and legality of financial statements.

C absolutely guarantee the truthfulness, integrity and operational effectiveness of business compliance, asset safety, financial reports and related information, so as to promote enterprise development.

D reasonably ensure the authenticity, integrity and operational effectiveness of business compliance, asset safety, financial reports and related information, and promote enterprise development.

Answer d

1 1.SOX Act stipulates that if the accounting statements are required to be re-compiled due to misconduct, the chief executive officer and chief financial officer of the company shall repay all bonuses, bonuses or other dividends or equity remuneration received from the company within () months, as well as the income realized from buying and selling the company's securities.

A.6

B 12

C.24

Grass 48

Answer b

12. The Act requires the company's senior managers to swear the authenticity of financial reports, and establishes the criminal responsibility for providing false financial reports, stipulating that the maximum penalty for destroying audit files is () years imprisonment, and the maximum penalty for destroying files in federal investigations and bankruptcy incidents is () years imprisonment.

a . 15； 20

B.20 15

c . 10； 20

D.20 10

Answer c

13. 1999 revised () put forward the principle requirement of establishing and perfecting internal control in the form of law for the first time.

A. Accounting law

B. Law on Certified Public Accountants

C. Internal accounting control standards-basic standards

D. Guidelines for internal control of commercial banks

Answer a

14. () refers to the timely identification and systematic analysis of risks related to the realization of internal control objectives in business activities, and the reasonable determination of risk response strategies.

A. Internal environment

B. Risk assessment

C. Control activities

D. Internal oversight

Answer b

15. () is a strategy for enterprises to take appropriate control measures to reduce risks or losses and control risks within the risk tolerance range after weighing costs and benefits.

A. Risk reduction

B. Risk aversion

C. risk sharing

D. Risk tolerance

Answer a

16. () directly use qualitative terms to describe the possibility of risk and its impact on the target.

A. Analytical methods

B. Ratio analysis method

C. Qualitative analysis methods

D. Quantitative analysis methods

Answer c

17. The following statement about internal control is wrong ().

A. The concept of internal control is risk-oriented control.

B Internal control is a control process, which requires the participation of all employees, including the board of directors, management and board of supervisors, but excluding employees.

C. Internal control is a kind of management, which is the management of risks.

D. internal control is a reasonable guarantee.

Answer b

The analysis of internal control is a control process, which requires the participation of all employees, from the board of directors, management, board of supervisors to employees at all levels.

18. The following statement about the internal environment is wrong ().

A corporate culture includes four elements: institutional culture, material culture, behavioral culture and spiritual culture. These four factors influence and interact with each other to form a complete corporate culture system.

B. Employee quality control includes employee quality control in recruitment, training, assessment, promotion and reward.

C. The internal environment contains the organizational tone, including: governance structure, institutional setup and distribution of powers and responsibilities, internal audit, human resources policy, corporate culture, etc.

D Internal control is a special form of internal audit control, and its scope mainly includes financial accounting, management accounting and internal control inspection.

Answer d

Internal audit control analysis is a special form of internal control, and its scope mainly includes financial accounting, management accounting and internal control inspection.

19. The following statement about the evaluation of internal control system is wrong ().

A. An enterprise shall carry out internal control evaluation according to the procedures of formulating evaluation plans, implementing evaluation activities and writing evaluation reports.

B the effectiveness of internal control means that the establishment and implementation of internal control can provide reasonable guarantee for the realization of control objectives.

C internal control defects can generally be divided into design defects and operation defects.

D. The evaluation of enterprise's implementation of internal control only includes the evaluation of the effectiveness of internal control design, excluding the evaluation of operational effectiveness.

Answer d

Analyze the evaluation of enterprise internal control, including the evaluation of internal control design and operation effectiveness.

20. The following statement about the key internal control system of cost is incorrect ().

A. expenses that are not included in the budget can never be paid.

B personnel in the same position should be adjusted and replaced regularly to avoid the same person being responsible for the same business for a long time.

C. The enterprise shall establish the cost budget system according to the cost target formed by the cost forecast decision.

Enterprises should choose reasonable cost accounting methods according to the characteristics of production and operation and management requirements.

Answer a

Analysis of expenses not included in the budget, if it is really necessary to spend, it shall apply for supplementary budget in accordance with the prescribed procedures.

2 1. The following statement about the encouragement, restraint and withdrawal of human resources is incorrect ().

A. The assessment process can not only motivate employees to improve their existing work, but also improve their professional quality in the assessment process.

B year-end assessment refers to the comprehensive evaluation of employees' work this year at the end of each year.

C. The application of material incentives in enterprises mainly includes increasing wages, awarding prizes, bonuses and welfare benefits such as vacation, recuperation and tourism.

Resignation of directors, managers and other senior managers should be audited.

Answer b

Analytical year-end assessment refers to the comprehensive evaluation of employees' work in the previous year at the beginning of each year.

22. The internal control environment of monetary funds is the general name of factors that have a significant impact on the establishment and implementation of internal control of monetary funds of enterprises. The decisive factor of the internal control environment of monetary funds is ().

A. Managing decision makers

B. Employees' professional ethics

C. Professional quality of employees

D. Internal audit

Answer a

Analysis of management decision-makers is the decisive factor of the internal control environment of monetary funds, especially in the case of implementing the personal responsibility system of enterprise leaders, the leadership style, management style, knowledge level, legal awareness and moral concept of management decision-makers directly affect the effect of the implementation of internal control of monetary funds.

23. The following statement about accounting informatization and its control is incorrect ().

A. Accounting informatization refers to the process of using computer information technology to replace manual processing of financial information and complete the analysis and judgment of accounting information instead of manual work.

B an enterprise cashier can concurrently serve as a computer system administrator and audit accounting vouchers.

C the enterprise shall establish an information-based accounting file management system.

D. Information accounting files refer to accounting materials stored in magnetic media or optical media and written accounting materials printed by computers, including accounting vouchers, accounting books, financial statements (including report formats and calculation formulas) and other materials.

Answer b

Cashiers of analytical enterprises shall not concurrently serve as computer system administrators or accounting voucher auditors.

24. Incompatible positions in M&A transactions do not include ().

A.M&A Contract Agreement and Related Accounting Records

B. Application and approval of merger and acquisition transactions

Approval and execution of C.M&A transactions

Signing and review of D.M&A contract agreement

Answer a

The analysis shows that the execution of M&A transaction is incompatible with relevant accounting records, while the conclusion of M&A contract agreement is compatible with relevant accounting records and can be executed by the same person.

25. The following statement is incorrect ().

The advantages of written report are low cost, providing formal figures, words and charts, and easy to copy, carry and transmit. This is the most common form of internal reporting.

Oral statement is usually a supplementary form of written report, which is often used in some emergencies.

C In order to facilitate management, internal reports are only in the form of periodic reports.

D. the board of directors of the company is the management body of the company's major information.

Answer c

There are two kinds of internal reports: regular reports and irregular reports. The frequency of periodic reports should be related to the information to be reflected. Some information needs to be reported once a month or two (such as profit) and some information needs to be reported once a day (such as store sales). Irregular reports are generally used for information transmission of temporary projects. For the frequency of such reports, the system designer should explain that the system manufacturer has the right to decide the time requirement for irregular reports.

Second, multiple choice questions

1. Internal control is a process implemented by enterprises (), () and () to achieve control objectives.

A. Board of Directors

B. county councils in the midwest and eastern states

C. shareholders

D. Management and all employees

Answer ABD

2. In September, 2004, COSO promulgated the comprehensive framework of enterprise risk management according to the requirements of Sarbanes-Oxley Act. The elements of COSO framework include ().

A. Internal environment and goal setting

B. Event identification and risk assessment

C. Risk response and control activities

D. information, communication and monitoring

Answer ABCD

3. The establishment of the Accounting Supervision Committee of Listed Companies (American Public Company Accounting Supervision Committee) is a major reform of the supervision system of American certified public accountants. Prior to this, the supervision system of American certified public accountants was mainly based on industry self-discipline, and the appearance of American public company accounting supervision Committee made the supervision obviously with the nature of government intervention. Its responsibilities mainly include ().

A. an accounting firm registered to perform the audit of listed companies

B. Formulating audit-related standards and systems

C. Check the practice quality of accounting firms

D. investigate and deal with illegal accounting firms

Answer ABCD

4. The duties of the audit committee include ().

Responsible for hiring a certified public accounting firm, paying remuneration to the firm and supervising its work.

The employed accounting firm shall report directly to the audit committee.

Accept and handle complaints about the company's accounting, internal control or audit.

D. the right to engage independent legal counsel or other counsel.

Answer ABCD

5. Chapter 404, consisting of 5 chapters. The SOX Act requires the Securities and Exchange Commission to issue relevant regulations, and all enterprises except investment companies must include () in their annual reports.

A. Responsibility report of management for establishing and maintaining appropriate internal control structure and financial reporting procedures

Management's evaluation of the effectiveness of the company's internal control structure and financial reporting procedures at the end of the financial year.

C management's responsibility report on establishing and maintaining an appropriate internal control structure and financial reporting procedures

D. At the end of the fiscal year, the management's assessment of the effectiveness of the company's internal control structure and financial reporting procedures.

Answer AB

6. China internal control standard system includes ().

A. Guidelines for the application of internal control in enterprises

B. Guidelines for evaluation of enterprise internal control

C. Guidelines for internal control and supervision of enterprises

D. Basic norms of enterprise internal control

Answer ABD

7. The principles for enterprises to establish and implement internal control include ().

A. the principle of comprehensiveness

B. Principle of materiality

C. cost-effectiveness principle

D. principle of timeliness

Answer ABC

The principles of establishing and implementing internal control in enterprises include comprehensiveness, importance, cost-effectiveness, balance and adaptability.

8. The Audit Committee is responsible for reviewing the internal control of the enterprise, supervising the effective implementation and self-evaluation of the internal control, and coordinating the internal control audit and other related matters. The person in charge of the audit committee should have the corresponding ().

A. knowledge and ability

B. Professional ability

C. Good professional ethics

D. independence

Answer BCD

9. Enterprises should formulate and implement human resources policies conducive to the sustainable development of enterprises. The human resources policy should include the following contents ().

A. Employment, training, dismissal and resignation of employees

B. Employee's salary, assessment, promotion, rewards and punishments

C mandatory leave system and regular rotation system for employees in key positions

D restrictive provisions on the resignation of employees who hold state secrets or important business secrets.

Answer ABCD

10. Of the following statements about incompatible operations, the correct one is ().

A the functions of approving economic business and executing business should be separated.

B the responsibility of keeping certain property and materials should be separated from the responsibility of recording them.

The responsibility for keeping certain property and materials should be separated from the responsibility for using them.

D. The responsibilities of executing certain economic operations and auditing these economic operations should be separated.

Answer ABCD

1 1. The ways of internal communication include (), etc.

A. Policies, manuals

B. financial statements and memoranda

C. Internal publications

D. Oral communication, internal network

Answer ABCD

12. Documents related to the establishment and implementation of internal control include: main documents related to internal control environment, main documents related to risk assessment, main documents related to control activities, main documents related to information and communication, main documents related to supervision and inspection, etc. The following are the main documents related to the control activity ().

A. Financial accounting reporting process

B. Performance evaluation documents

C. sales and collection cycle control documents

D. Corporate financial report

Answer communication

Parsing option b is the main document related to information and communication; Option D is the main document related to the internal control environment.

13. In the separation of incompatible duties under capital control, the cashier shall not concurrently hold the post ().

A. Keep accounting files

B. Destruction of accounting files

C. Registration of creditor's rights and debts accounts

D. Registration of fixed assets

Answer communication

Cashiers may not concurrently serve as auditors, keep accounting files and register income, expenditure, expenses, creditor's rights and debts. No one may handle the whole process of money fund business.

14. Incompatible positions in enterprise procurement business include at least ().

A. Application and approval

B. Selection and approval of suppliers

C. Preparation, review and approval of procurement contract agreements

D. Procurement, acceptance and related records

Answer ABCD

15. The management of credit sales includes two parts, namely ().

A. Establish a credit line

B. Daily credit sales management

C. Long-term credit management

D. After-sales management of credit sales

Answer AB

16. The core content of Basic Standards for Enterprise Internal Control is internal control elements, and the following are internal control elements ().

A. Risk assessment

B. Internal environment

C. Risk assessment

D. Information and communication

Answer ABCD

The analysis of internal control elements includes five aspects, including internal supervision in addition to the above four options.

17. Enterprises should follow certain principles in establishing and implementing internal control. The following belong to this principle ().

A. the principle of comprehensiveness

B. The principle of adaptability

C. principle of materiality

D. Principle of checks and balances

Answer ABCD

In addition to the above four items, the principle that should be followed in the analysis is the principle of cost-effectiveness.

18. Incompatible positions in comprehensive budget work generally include ().

A. Budget approval and budget implementation

B. Budget implementation and budget evaluation

C. Budget preparation and budget approval

D. Budget preparation and budget adjustment

Answer ABC

Analyzing the budget includes budget adjustment, which is compatible.

19. Budget adjustment procedures generally include ().

A. Budget adjustment application

B. Budget performance analysis

C. Prepare a comprehensive budget before the start of the budget year, review and approve it according to the prescribed authority and procedures, and then issue it in the form of a document for implementation.

D. Review of budget adjustments

Answer ABD

Analysis option c belongs to the budget procedure.

20. The objectives of cost internal control mainly include ().

A. ensure that all costs and expenses are reasonable.

B. ensure the legality of all costs and expenses.

C. Strengthening cost management and improving economic benefits

D. Ensure the correct accounting of costs and expenses, and provide real and reliable cost and expense information in time.

Answer ABCD

Third, the judgment question

1. An accounting firm that provides consulting services for enterprise internal control shall not provide internal control audit services for the same enterprise at the same time. ( )

The answer is correct.

2. Enterprises should strengthen cultural construction, cultivate positive values and sense of social responsibility, advocate the spirit of honesty and trustworthiness, dedication, innovation and teamwork, establish modern management concepts and strengthen risk awareness. Directors, supervisors, managers and other senior managers should play a comprehensive and responsible role in the construction of corporate culture. ( )

Wrong answer

Directors, supervisors, managers and other senior managers should play a leading role in the construction of corporate culture.

3. Cashiers can also obtain bank statements and prepare bank reconciliation statements. ( )

Wrong answer

Generally speaking, tellers are not allowed to obtain bank statements and prepare bank statements at the same time.

4. Enterprises should strengthen the management of bank seals. The special financial seal shall be kept by a special person, and the personal seal shall be kept by himself or his authorized person, and all the seals required for payment shall not be kept by one person. ( )

The answer is correct.

5. The departments or personnel in charge of acceptance shall immediately explain the reasons for the abnormal situations found in the acceptance process and handle them in time. ( )

Wrong answer

Analyze the abnormal situation found in the acceptance process, and the department or personnel responsible for acceptance shall report to the relevant departments immediately; Relevant departments should find out the reasons and deal with them in time.

6. The enterprise shall establish a return management system, make clear provisions on return conditions, return procedures, delivery of goods and recovery of return payment, and recover the return payment in time. ( )

The answer is correct.

7. In the sales negotiation, the negotiator can generally be appointed by the head of the sales department as a sales clerk and a sales backstage (the legal service department can send a negotiator to the unit that set up the legal department) to participate in the negotiation with customers. ( )

The answer is correct.

8. The sales return of the enterprise must be approved by the sales supervisor before it can be implemented. ( )

The answer is correct.

9.SOX Act stipulates that accounting firms are absolutely forbidden to provide some non-audit services for listed clients they audit, including bookkeeping, report generation, design and operation of financial information system, evaluation, actuarial and internal audit. ( )

Wrong answer

Parsing should be prohibited in principle, not absolutely.

10. Information system is the most effective information transmission system with high transmission speed. ( )

The answer is correct.

1 1. An accounting firm that provides audit for internal control of an enterprise may not provide internal control audit services for the same enterprise at the same time. ( )

Wrong answer

An accounting firm that provides consulting for enterprise internal control shall not provide internal control audit services for the same enterprise at the same time.

12. Risk tolerance is the risk limit that an enterprise can bear, including the overall risk tolerance and the acceptable risk level at the business level. ( )

The answer is correct.

13. Authorization is a strategic system decision for special transactions or special transactions. ( )

Wrong answer

Analysis authorization is a strategic system decision for general or special transactions.

14. The enterprise shall implement the system of collective decision-making approval or joint signing for major business and matters, and no individual may make decisions alone or change the collective decision without authorization. ( )

The answer is correct.

15. Enterprises should follow the principles of risk orientation, consistency, fairness, independence and cost-effectiveness. ( )

The answer is correct.

16. The goal of internal control is to reasonably ensure the legality and compliance of enterprise management, the safety of assets, the truthfulness and completeness of financial reports and related information, improve operating efficiency and effectiveness, and promote the realization of enterprise development strategy. ( )

The answer is correct.

17. According to the Basic Standards for Internal Control of Enterprises, an accounting firm entrusted by an enterprise to engage in internal control audit shall audit the effectiveness of internal control of enterprises in accordance with relevant standards, supporting measures and relevant professional norms, and issue an audit report. An accounting firm shall be responsible for the internal control audit opinions published, but the signed employees shall not be responsible for the internal control audit opinions published. ( )

Wrong answer

Accounting firms and their signatory employees shall be responsible for the internal control audit opinions published.

18. The information mentioned in the Basic Standards for Internal Control of Enterprises refers to the information that affects the internal environment, risk assessment, control activities and internal supervision of enterprises. Information exchange is a part of information system and communication within an organization. Communication is the core of organizational structure and the foundation of organizational existence. Without communication, there is no organization. Therefore, information communication is the foundation of organizational stability and plays an important role in organizational development. ( )

Wrong answer

Analytical communication is a part of the information system, and it is the information exchange in the organization. Information exchange is the core of organizational structure and the foundation of organizational existence. Without information exchange, there is no organization. Therefore, information communication is the foundation of organizational stability and plays an important role in organizational development.

19. If the other party breaches the contract, it shall collect liquidated damages according to the terms agreed in the contract; If the liquidated damages are insufficient to make up for the losses of the enterprise, the other party shall be required to compensate for the losses and take corresponding preservation measures when necessary. ( )

The answer is correct.

20. The selection of outsourcing contractors is an important guarantee for the smooth implementation of outsourcing decisions, and the lack of this link is an important reason for the failure of many outsourcing cases. ( )

Wrong answer

Analysis of the supervision and control of outsourcing activities is an important guarantee for the smooth implementation of outsourcing decisions, and the lack of this link is an important reason for the failure of many outsourcing cases.