This internal control questionnaire item-"Are interest payments and accruals monitored for due dates?"-relates to the control objective of ________.
A)validity
B)completeness
C)accounting
D)proper period recording

Question

Quizplus · Accepted Answer

This internal control questionnaire item relates to the proper period recording control objective, as it ensures that interest payments and accruals are recorded in the correct accounting period and that they are not overlooked or missed. Monitoring due dates helps to ensure that interest expenses are recorded in the correct period, which is necessary for accurate financial reporting.

This Internal Control Questionnaire Item-"Are Interest Payments and Accruals Monitored