Each of the Following Is a Feature of Internal Control

question 52

Multiple Choice

Each of the following is a feature of internal control except

• A)an extensive marketing plan.
• B)bonding of employees.
• C)separation of duties.
• D)recording of all transactions.

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Definitions:

Original Cost

The initial amount of money spent to acquire an asset, before depreciation or amortization is taken into account.

Required Rate Of Return

The minimum percentage return an investor expects to receive from an investment due to its risk level.

Tax Rate

The percentage at which an individual or corporation is taxed on their income.

Net Working Capital

The difference between a company's current assets and current liabilities, indicating its short-term financial health and efficiency.