The Internal Audit Answers the Questions of

question 13

Multiple Choice

The internal audit answers the questions of

• A) Do the various functions have the needed resources to perform their assigned work activities?
• B) How well do they perform these assigned work activities?
• C) What are the organization's primary opportunities and threats?
• D) possessing the needed resources and then performing assigned work activities.
• E) None of the answer choices is correct.

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Definitions:

Operating Expenses

Expenditures that a business incurs through its normal business operations, such as rent, utilities, and salaries, excluding production costs.

Accounts Receivable

Receivables from clients for services or goods delivered by a company but not yet compensated.

Accounts Payable

Money owed by a business to its suppliers shown as a liability on the company's balance sheet.

Cash Receipts

The collection of money, including currency, checks, electronic transfers, and other forms of payment, for goods or services rendered.