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A Company Is Said to Lack Control When There Is

question 46

Multiple Choice

A company is said to lack control when there is a(n) ________, that is the firm's expectations are not established in writing.


Definitions:

Assign

To transfer property by sale, mortgage, pledge, or otherwise.

Floating Lien

A provision, placed by the creditor, in a security agreement that a security interest of the creditor also applies to goods the debtor acquires at a later time.

Inventory

Goods held for sale or lease, or raw materials used or consumed in a business.

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