In Establishing a Good Internal Reporting System, a Company Should

question 61

Multiple Choice

In establishing a good internal reporting system, a company should

• A)ensure that these reports agree to generally accepted accounting principles.
• B)have the Board of Directors agree to the information provided.
• C)establish clearly understood standards of performance.
• D)All of the above are valid reasons.

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Definitions:

Slope

A measure of the steepness or incline of a line or surface, typically described as the ratio between the change in the y-value and the change in the x-value.

Variable

An element, feature, or factor that is likely to vary or change; it can be quantitative or qualitative in experiments and mathematical models.

Mathematical Convention

Established, standardized practices or rules that are followed within mathematical reasoning and calculations.

Independent Variable

The variable causing a change in some other (dependent) variable.