Internal Controls Are Important Because They

question 17

Multiple Choice

Internal controls are important because they:

• A) deter fraud and prevent misleading financial statements.
• B) eliminate fraud.
• C) ensure that the company maintains a compensating balance.
• D) guarantee accurate financial statements.

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Definitions:

Market Entry

The strategy or methodology used by a company to begin selling its products or services in a new market or geographical area.

Entry Strategy

A planned method of delivering goods or services to a new target market and distributing them there.

Risky Business

Activities or ventures that involve a high degree of uncertainty and potential for financial loss, but also an opportunity for significant rewards.

International Marketing

The practice of marketing goods or services beyond domestic borders, taking into consideration the diverse conditions of global markets.