Each of the Following Is a Feature of Internal Control

question 147

Multiple Choice

Each of the following is a feature of internal control except

• A)limited access to assets.
• B)independent internal verifications.
• C)authorization of transactions.
• D)generic design of documents.

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Definitions:

Routine Documents

Documents that are used regularly within an organization for its ongoing operations, such as forms, reports, and standard operating procedures.

Precise Number

A numerical value defined with exactitude, without approximation or rounding.

Finished Product

A product that has completed the manufacturing process and is ready for sale or distribution.

SCM

Stands for Supply Chain Management, which involves the active management of supply chain activities to maximize customer value and achieve a sustainable competitive advantage.