Internal Controls Are Procedures Set Up to

question 147

Multiple Choice

Internal controls are procedures set up to

• A)Protect assets.
• B)Ensure company policies are followed.
• C)Ensure accounting reports are free from error, neutral and complete.
• D)Promote efficiency.
• E)All of these answers are correct.

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Definitions:

Servicescape

The physical environment of a service delivery, influencing customer perceptions and behaviors within a service setting.

JIT Partnership

denotes a collaborative arrangement between suppliers and buyers where just-in-time manufacturing principles are applied, aiming to minimize inventory levels and streamline production processes.

Inventory

The total amount of goods or materials contained in a store or factory at any given time.

JIT Systems

JIT, or Just-In-Time Systems, refer to an inventory management strategy aiming to decrease waste and increase efficiency by receiving goods only as they are needed in the production process.