Internal Control Is Most Effective When Several People Are Responsible

question 32

True/False

Internal control is most effective when several people are responsible for a given task.

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Definitions:

Centralized Selection

A recruitment approach where the hiring decisions are made by a central body or in a single location, rather than by decentralized units or managers.

Legal Compliance

the process of ensuring that an organization's practices, operations, and procedures adhere to relevant laws, regulations, and guidelines.

Standardized Tests

Tests administered and scored in a consistent manner, designed to measure proficiency in specific areas across different individuals.

Build for Within

A strategy focused on developing and promoting talent internally, rather than recruiting from outside the organization.