Which of the Following Is NOT a Key Element of Good

question 43

Multiple Choice

Which of the following is NOT a key element of good internal control?

• A)Having competent, reliable and ethical personnel
• B)Having a good working environment for employees
• C)Having separation of duties
• D)Having periodic audits

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Definitions:

Share Options

Rights given to employees or investors to purchase shares of a company at a predetermined price for a specific period.

Performance-Related Pay

A compensation strategy that links employee salary or bonuses to their performance, aiming to motivate and reward employees for achieving specific business goals.

Team-Based Bonuses

Financial rewards provided to group members for achieving or exceeding team performance goals.

Individual Reward Schemes

Reward systems tailored to compensate or motivate individual employees, typically based on their performance or achievements.