Corrective controls are _______

Corrective controls are ________.

A) designed to monitor business risks
B) designed to identify when an error or irregularity has occurred
C) designed to stop a problem before it starts
D) directed at recovering from an error

(Q. 2) Within the data center, the data control group is responsible for routing all work into and out of the data center, correcting errors, and monitoring error correction.
Indicate whether the statement is true or false

(Q. 3) Net sales is net of ________.

A) goods in transit
B) cost of goods sold
C) sales returns and allowances
D) gross profit

(Q. 4) Gross pay less mandatory and voluntary deductions is called ____________________.
Fill in the blank(s) with correct word

(Q. 5) On January 1, 2011, Swinger, Inc. purchases a batting machine for 240,000 that has an estimated useful life of 5 years and an expected residual value of 20,000. Calculate the annual amount of depreciation expense.

A) 48,000
B) 44,000
C) 20,000
D) 88,000

(Q. 6) Assuming that the company uses the perpetual inventory system, determine the ending inventory for the month ofMay using the LIFO inventory cost method.
a. 324
b. 372
c. 320
d. 364

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Corrective controls are ________. (Multiple Choice)

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