Match the Action with the Category of Internal Control Procedures

question 49

Multiple Choice

Match the action with the category of internal control procedures
-Independent verification

• A)One department should check on another
• B)Internal audit staff ensure all is working as intended
• C)Accounting and cash collection is properly separated
• D)Blank checks are locked at all times when not in use
• E)Origination of initial entry into accounting system
• F)Specific authority is given by management for the performance of activities.

---

Definitions:

Competitive Advantage

A condition or circumstance that puts a company in a favorable or superior business position compared to its competitors.

Product Life Cycle

The stage-based progression of a product from its introduction to growth, maturity, and eventual decline in the market.

Marketers

Individuals or companies engaged in promoting, selling, and distributing a product or service.

Industry

A category of businesses that produce or sell similar products or services, characterized by common challenges, opportunities, and market structures.