An Internal Reconciliation Account Is Not Required for Internal Transfers

question 132

Multiple Choice

An internal reconciliation account is not required for internal transfers based on

• A)market value.
• B)dual prices.
• C)negotiated prices.
• D)cost.

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Definitions:

Accounting and Finance

The area concerned with the management of funds and monetary transactions within an organization.

Outsourcing

The practice of hiring external firms or individuals to perform tasks, handle operations or provide services for an organization.

Specific Skills

Abilities or expertise that are particularly suited to specific tasks or industries, often requiring specialized training or experience.

Cost Neutrality

A financial strategy or condition where new expenditures are offset by savings or additional revenue in other areas, resulting in no net impact on the budget.