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

Which of the following is an example of a risk in the accounting and payment process?

1. 
   Insufficient segregation of duties
   
2. 
   Inadequate marketing efforts
   
3. 
   Delayed supplier payments
   
4. 
   Inaccurate financial reporting
   

7. 
   Which of the following is an objective of internal controls in the accounting and payment process?
   

1. 
   Maximizing profit margins
   
2. 
   Minimizing employee turnover
   
3. 
   Ensuring compliance with regulatory standards
   
4. 
   Streamlining supply chain logistics
   

7. 
   The primary purpose of an audit of accounting and payment processes is to:
   

1. 
   Identify opportunities for cost reduction
   
2. 
   Minimize financial statement errors
   
3. 
   Optimize inventory management
   
4. 
   Evaluate the effectiveness of internal controls
   

7. 
   Which of the following is a typical step in the accounting and payment process?
   

1. 
   Conducting market research
   
2. 
   Negotiating vendor contracts
   
3. 
   Skipping invoice approval for urgent payments
   
4. 
   Assigning accounting responsibilities to multiple individuals
   

7. 
   Which of the following is a control measure to mitigate the risk of unauthorized payments?
   

1. 
   Implementing segregation of duties
   
2. 
   Increasing payment processing speed
   
3. 
   Reducing invoice verification procedures
   
4. 
   Allowing unrestricted access to financial systems
   

7.