The Following Set of Items Describes Activities Completed by a Company

question 159

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.)
-Monthly statements are mailed to customers to indicate the current balance due.

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

---

Definitions:

Human Capital

The combined abilities, expertise, and non-physical assets of people that contribute to generating economic wealth.

Technology

The application of scientific knowledge for practical purposes, especially in industry and in our daily lives.

Determinants Of Productivity

Factors that influence the output that an individual, company, or economy can produce with a given amount of input, such as technology, human capital, and innovation.

Ife Figures

Ancient artistic sculptures from the Yoruba city of Ife, in present-day Nigeria, celebrated for their sophisticated realism and craftsmanship.