The Two Levels of Internal Control Are _______

question 22

Multiple Choice

The two levels of internal control are _______.

• A)entity-level controls and transaction-level controls
• B)entity-level controls
• C)transaction-level controls
• D)transaction-level and auditor-level controls

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Definitions:

Company Profits

The financial gain that a company achieves after all expenses, taxes, and costs have been subtracted from total revenue.

Time-Series Graph

A two-variable graph that has dates on the horizontal axis and values of a variable that occurred on those dates on the vertical axis.

Seasonally Adjusted

A statistical technique used to remove seasonal variations from a data series to more clearly analyze trends.

Unemployment Rate

The fraction of individuals in the labor force who are without jobs and are searching for employment.