Products and Services, Profits and Losses, and Employee Behaviors Are

question 5

Short Answer

Products and services, profits and losses, and employee behaviors are all types of ____________________ that an organizational system releases to the environment.

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Definitions:

External Audit

An external audit is conducted by an independent firm or individual to examine an organization's financial records and operations to ensure the accuracy and integrity of its financial statements.

Internal Control

A process designed to ensure the reliability of financial reporting, compliance with laws and regulations, and effective and efficient operations.

Significant Accounting Policies

These are the specific principles, bases, conventions, rules, and practices applied by an entity in preparing and presenting financial statements.

Financial Statements

Reports that provide detailed information about a company's financial status, including its income, expenses, equity, and cash flows, over a particular period.