Examlex
Which of the following statements is correct?
Collusion
A secret agreement or cooperation between two or more parties for a fraudulent, illegal, or deceitful purpose, often in business or trade practices.
Internal Control System
An internal control system encompasses the rules, procedures, and measures implemented by an organization to safeguard assets, enhance the reliability of financial reports, and ensure compliance with laws and regulations.
Systems Design
The process of defining the architecture, components, modules, interfaces, and data for a system to satisfy specified requirements.
Cash Equivalents
Short-term, highly liquid investments that are easily convertible into known amounts of cash with original maturities of three months or less.
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