From an Internal Control Standpoint the Asset Most Susceptible to Improper

question 159

Multiple Choice

From an internal control standpoint the asset most susceptible to improper diversion and use is

• A) prepaid insurance.
• B) cash.
• C) buildings.
• D) land.

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Definitions:

Adverse Possession

The legal acquisition of title to another's real property by continuous possession under certain conditions for a specified period of time.

Vacant Plot

An empty piece of land that has not been developed or built upon.

Fencing

The sport of fighting with swords, particularly foils, épées, or sabres, according to set rules; also refers to a barrier or structure serving as a boundary or means of protection.

Mowing

The process of cutting down grass or other vegetation to maintain land or lawn appearance and health.