All of the Following Are Examples of Internal Control Procedures

question 55

Multiple Choice

All of the following are examples of internal control procedures except

• A)Using pre-numbered documents
• B)Reconciling the bank statement
• C)Processing customer satisfaction surveys
• D)Insistence that employees take vacations

---

Definitions:

Simple Rate

Refers to a basic or straightforward percentage that does not involve compounding over time, typically in finance.

Salvage Value

Salvage value is the estimated residual value of an asset after it has reached the end of its useful life and is no longer useful for its original purpose.

Payback Period

The period of time needed to recover the initial cost of an investment.

Simple Rate

A basic or straightforward percentage or interest rate, not compounded or adjusted.