Internal Controls Have Four Fundamental Purposes

question 12

Multiple Choice

Internal controls have four fundamental purposes. Which of the following pairs an internal control for XBRL with an appropriate purpose of internal control?

• A)Electronic tagging, promoting operating efficiency
• B)Centralized approval process for taxonomy additions, safeguarding assets
• C)Both A and B
• D)Neither A nor B

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Definitions:

Clinical Psychology

The branch of psychology focused on diagnosing and treating mental, emotional, and behavioral disorders.

Private Practice

A business practice, especially in the fields of law, medicine, therapy, etc., where a professional operates independently, offering services to clients or patients on a fee-for-service basis outside of institutional or hospital settings.

Social Anxiety Disorder

A chronic mental health condition where social interactions cause irrational anxiety and fear.

Cognitive-behavioral Therapy

A psychotherapeutic treatment that helps individuals understand the thoughts and feelings that influence behaviors, aimed at changing negative patterns into positive ones.