Accounting Procedures, Precautions, and Forms Established to Prevent and Minimize

question 20

Multiple Choice

Accounting procedures, precautions, and forms established to prevent and minimize errors and fraud are called

• A) internal controls.
• B) external controls.
• C) audits.
• D) bookkeeping.

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Definitions:

Sales Forecast

An estimation of the sales revenue a company expects to achieve in a future period under a given set of conditions.

Financial Planning

Financial planning involves evaluating one's current financial status and making strategies to achieve future goals and financial stability.

Prosper

Prosper generally refers to achieving success or flourishing, especially in financial terms or in one's personal development.

Grow

The process of increasing in size, quantity, value, or strength over time.