Assume That a Company Designs and Implements a Control Procedure

question 36

Multiple Choice

Assume that a company designs and implements a control procedure whereby the accountant who is responsible for recording cash receipts transactions does not have access to the cash itself.This control procedure is an example of a:

• A)Detective control
• B)Preventive control
• C)Corrective control
• D)Feedback control

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Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price, in a given time period.

Coffee

A brewed drink prepared from roasted coffee beans, which are the seeds of berries from the Coffea plant.

Price Decreases

Refers to a reduction in the price of goods or services, often due to supply and demand factors.

Price Ceiling

A government-imposed limit on how high a price is charged for a product, intended to protect consumers from high prices.