All of the Following Are Examples of Internal Control Procedures

question 146

Multiple Choice

All of the following are examples of internal control procedures except

• A)using prenumbered documents.
• B)reconciling the bank statement.
• C)customer satisfaction surveys.
• D)insisting that employees take vacations.

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Definitions:

Nonconsenting Third Parties

Individuals or groups affected by a transaction between other parties without their explicit agreement or participation.

Nonexcludable

A characteristic of a good or service that prevents the owner from effectively excluding others from using it, often associated with public goods.

Nonrival-in-consumption

A property of certain goods where one individual's consumption does not diminish the ability of others to consume the same good.

Public Good

An item or service made available to all societal members at no cost, regardless of profit, by either governmental bodies or private individuals or groups.