Controls That Enhance the Accuracy and Reliability of the Accounting

question 11

Multiple Choice

Controls that enhance the accuracy and reliability of the accounting records are

• A) automated controls.
• B) external controls.
• C) mechanical and electronic controls.
• D) physical controls.

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Definitions:

Demand Function

A mathematical expression showing the relationship between the quantity demanded of a good and its price, along with other determinants of demand like income.

Quantity Tax

A tax levied on the quantity of goods sold, not on the value of sales.

Supply Schedule

A table or graph showing the quantity of a good that producers are willing and able to supply at different prices.

Tax Rate

The rate at which taxes are levied on an individual or a company's income.