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One of the Greatest Advantages That Small Businesses Have Over

question 84

True/False

One of the greatest advantages that small businesses have over larger ones is the ability to know their customers better and to adapt quickly to the customers' needs.


Definitions:

Internal Controls

Procedures and policies implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Sarbanes-Oxley Act

A federal law in the United States enacted to protect investors by improving the accuracy and reliability of corporate disclosures.

Committee of Sponsoring Organizations

A voluntary private sector organization dedicated to providing guidance on risk management, governance, and internal control frameworks.

Cash Over

A situation where the amount of cash on hand is greater than the expected amount, indicating possible errors or oversight.

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