Accounting Question

Instructions – Instructions – PLEASE READ THEM CAREFULLY
PLEASE READ THEM CAREFULLY
• The Assignment must be submitted on Blackboard (WORD format only) via allocated
folder.
• Assignments submitted through email will not be accepted.
• Students are advised to make their work clear and well presented, marks may be
reduced for poor presentation. This includes filling your information on the cover
page.
• Students must mention question number clearly in their answer.
• Late submission will NOT be accepted.
• Avoid plagiarism, the work should be in your own words, copying from students or
other resources without proper referencing will result in ZERO marks. No exceptions.
• All answers must be typed using Times New Roman (size 12, double-spaced) font.
No pictures containing text will be accepted and will be considered plagiarism.
• Submissions without this cover page will NOT be accepted.
Assignment Question(s):
Q1. What are the Components of Internal Control? Explain each component.
Answer:
Q2. Why must an auditor assess materiality?
Answer:
Q3.You are the owner of a small grocery store, Corner Marketplace. Explain the
five process categories and how they apply to your business?
Answer:
Q4. Name two management assertions pertaining to the inventory account
balance and explain why they are considered in an audit ?
Answer: