Policies and Procedures Used to Promote Efficient Company Operations Are

question 141

Multiple Choice

Policies and procedures used to promote efficient company operations are known as:

• A)Inventory control.
• B)Internal controls.
• C)Cash controls.
• D)Asset controls.
• E)Management controls.

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Definitions:

Current Liabilities

Financial obligations that a company is required to pay within a year, including accounts payable, short-term loans, and other short-term debts.

Past Transactions

Previous financial activities or exchanges that have occurred in an entity's history.

Future Payments

The amounts of money obligated to be paid at future dates for goods or services received or for debt repayment.

Withholding Table

A chart that helps employers determine the amount of taxes to withhold from employees' paychecks, based on their earnings and tax status.