Match the Following Terms with Their Correct Definitions

question 4

Multiple Choice

Match the following terms with their correct definitions.
-Policies and procedures established by top management to help ensure that the company's accounting system and financial statements are as accurate as possible

• A)Accounting system
• B)Business process risks
• C)Control activities
• D)Control environment
• E)Internal control system
• F)Safeguarding
• G)Segregation of duties
• H)Strategic risks

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Definitions:

Learning

A change in behavior that results from experience.

Internal Process Improvement

The systematic approach to enhance and optimize an organization's internal procedures for better efficiency and effectiveness.

ROA (Return on Assets)

A financial ratio indicating how profitable a company is relative to its total assets, measuring efficiency in managing investments to generate earnings.

Net Income

The total earnings or profit of a company after all expenses and taxes have been deducted from total revenue.