The Following Set of Items Describes Activities Completed by a Company

question 55

Multiple Choice

The following set of items describes activities completed by a company in purchasing and paying for merchandise and in collecting cash for merchandise sales. For each activity, identify whether or not the activity adheres to or violates sound internal control procedures. (Choices may be used more than once.)
-An employee from the accounting department compares the cash register tapes with the bank deposits.

• A)Adheres to sound internal controls
• B)Violates sound internal controls
• C)Neither strengthens nor violates internal control

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Definitions:

Marketer

A professional involved in identifying market opportunities, developing strategies, and creating and implementing marketing plans to promote products or services.

Experience Curve

The concept that costs decline and efficiency improves as a company gains more experience in production and operations over time.

Cost Reductions

Cost reductions involve strategies and actions taken to lower the expense of operations or production in a business, aiming to increase profitability without compromising quality.

Exchange Rates

The value of one currency expressed in terms of another currency.