Failures of Corporate Internal Controls and Inadequate Internal Control Systems

question 31

True/False

Failures of corporate internal controls and inadequate internal control systems allowed unethical executives at such companies as Enron and WorldCom to act in their own self-interest.

---

Definitions:

Product Mix

A combination of different products that a company manufactures or sells.

Product Price

The amount of money charged for a product or service, set by the seller.

Production Department

The production department is a segment within a manufacturing company responsible for the processes and activities related to producing the company's products.

Manufacturing Processes

The series of steps involved in the production of goods, from raw materials to finished products.