As a Form of Internal Control Within the Acquisition

question 15

Multiple Choice

As a form of internal control within the acquisition / payment process, internal auditors are most likely to:

• A)Prevent or detect a problem.
• B)Prevent or correct a problem.
• C)Detect or correct a problem.
• D)None of the above; internal auditors are not a form of internal control for the acquisition / payment process.

---

Definitions:

Effective Leadership

The ability to inspire and guide individuals or teams to achieve set goals while maintaining morale and productivity.

Pareto Optimality

A state of allocation of resources from which it is impossible to reallocate to make any one individual or preference criterion better off without making at least one individual or preference criterion worse off.

Voluntary Exchange

An economic transaction in which two parties agree to trade goods or services based on mutual consent.

Autographed Picture

A photograph signed by a celebrity or well-known person, often sought after by fans and collectors as a valuable or sentimental item.