Internal Control Has Four Major Purposes in Organizations

question 19

Multiple Choice

Internal control has four major purposes in organizations.Ways to achieve at least one of the four include: (i) requiring supervisory review of how complex transactions are recorded in the journal, (ii) using general ledger software such as Peachtree.

• A)I only.
• B)II only.
• C)Both I and II.
• D)Neither I nor II.

Understand the principles of discounted cash flows to value conditional sale contracts and other financial agreements.

Understand the concept of compound interest and its application in financial planning.

Calculate the future value of investments using different compounding periods.

Assess the necessary initial deposit for reaching specific financial goals with given interest rates and time frames.

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Definitions:

Body Language

Non-verbal communication through gestures, expressions, and body movements, conveying attitudes or feelings.

Slang Word

Informal language that often emerges within specific social groups, characterized by unconventional or inventive expressions.

Two-Word Verb

A verb phrase consisting of a verb and a preposition or adverb that together function as a single verb, affecting the meaning of the main verb.

Cross-Cultural Communication

is the process of exchanging information between individuals from different cultures, requiring an understanding of diverse cultural norms and values.