Test prepared by Xaydarov Elbek hba-81i How do business expenses affect financial results?

The purpose of accounts payable in the accounting and payment process is to:

1. 
   Maintain accurate financial records
   
2. 
   Review and approve purchase orders
   
3. 
   Establish credit limits for customers
   
4. 
   Optimize cash flow management
   

7. 
   Which of the following is a risk associated with inadequate documentation in the accounting and payment process?
   

1. 
   Inaccurate financial reporting
   
2. 
   Delayed invoice processing
   
3. 
   Difficulties in budget planning
   
4. 
   Non-compliance with tax regulations
   

7. 
   What is the primary objective of an audit obligation?
   

1. 
   Assessing financial performance
   
2. 
   Detecting fraud and errors
   
3. 
   Evaluating compliance with laws and regulations
   
4. 
   Identifying opportunities for cost reduction
   

7. 
   Which of the following is an example of an audit obligation?
   

1. 
   Preparing financial statements
   
2. 
   Conducting market research
   
3. 
   Implementing internal control procedures
   
4. 
   Developing marketing strategies
   

7. 
   The purpose of an audit obligation is to:
   

1. 
   Review internal policies and procedures
   
2. 
   Identify potential conflicts of interest
   
3. 
   Assess compliance with legal requirements
   
4. 
   Evaluate customer satisfaction levels
   

7. 
   Which of the following is a risk associated with non-compliance with audit obligations?
   

1. 
   Inaccurate financial reporting
   
2. 
   Delayed product delivery
   
3. 
   Insufficient marketing efforts
   
4. 
   Increased employee turnover
   

7.