Company Policy for Internal Control Should Include All of the Following

question 77

Multiple Choice

Company policy for internal control should include all of the following except:

• A) Employees will be rotated twice a year.
• B) Monthly bank statements should be sent to and reconciled by the same employees who authorize payments and write checks.
• C) The owner (or responsible employee) signs all checks after receiving authorization to pay from the departments concerned.
• D) At time of payment, all supporting invoices or documents will be stamped "paid."

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Definitions:

Environmental Concerns

Issues related to the impact of human activity on the planet, including pollution, climate change, and resource depletion.

Core Culture

Represents the fundamental beliefs, values, and practices that are shared by members of an organization, shaping its identity and behaviors.

Product Innovation

The creation or significant improvement of products, including their components or features, to enhance their appeal and functionality for users.

Pervasiveness

The quality of being widespread or prevalent, often referring to ideas, behaviors, or technological influences that extend through all parts of society.