It Is Necessary for the Owners and Top Managers to Demonstrate

question 141

True/False

It is necessary for the owners and top managers to demonstrate the importance of internal controls in order to expect the employees to take the controls seriously.

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Definitions:

Repaid

The act of paying back money that was borrowed from a person, bank, or financial institution.

Interest Rate

The ratio at which interest is applied to money loaned by a borrower from a lending party.

Compounded Semi-annually

A financial term indicating the interest on an investment is calculated and added to the principal balance twice every year, enhancing the total return over periods.

Obligation

A duty or commitment to pay money or perform some action.