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

Which of the following is an objective of internal control obligations in an audit?

1. 
   Maximizing profit margins
   
2. 
   Minimizing production costs
   
3. 
   Ensuring compliance with laws and regulations
   
4. 
   Streamlining supply chain logistics
   

7. 
   The primary purpose of audit obligations is to:
   

1. 
   Identify opportunities for process improvement
   
2. 
   Minimize financial statement errors
   
3. 
   Optimize inventory management
   
4. 
   Evaluate compliance with legal and regulatory requirements
   

7. 
   Which of the following is a typical step in fulfilling audit obligations?
   

1. 
   Conducting market research
   
2. 
   Negotiating supplier contracts
   
3. 
   Skipping internal control reviews
   
4. 
   Assigning audit responsibilities to multiple individuals
   

7. 
   Which of the following is a control measure to ensure compliance with audit obligations?
   

1. 
   Implementing a code of conduct for employees
   
2. 
   Increasing production speed to meet targets
   
3. 
   Reducing audit scope and procedures
   
4. 
   Allowing unrestricted access to financial systems
   

7. 
   The purpose of compliance assessments in audit obligations is to:
   

1. 
   Maintain accurate financial records
   
2. 
   Review and approve purchase orders
   
3. 
   Identify areas of non-compliance with laws and regulations
   
4. 
   Optimize cash flow management
   

7.