Which of the Following Is an Essential Element of Internal

question 69

Multiple Choice

Which of the following is an essential element of internal control?

• A) Computerized accounting systems
• B) An outsourced internal audit function
• C) Procedures for proper authorization of transactions
• D) Verification by government agencies

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Definitions:

Authorized

Having official permission or approval to do something.

Specified Territory

A clearly defined geographic or conceptual area designated for a specific purpose or assigned to a person or entity.

Transnational Companies

Corporations that operate and have assets in more than one country, often managing production and delivering services in various international locations.

Global Strategies

Plans developed by organizations to operate and compete on a worldwide scale, taking advantage of global opportunities and managing global challenges.