Which of the Following Is a Typical Internal Control

question 6

Multiple Choice

Which of the following is a typical internal control?

• A) The use of password-protected computers and software.
• B) The requirement that separate individuals authorize cash disbursements and sign checks.
• C) The use of physical controls over inventories to prevent loss from theft.
• D) A physical count of inventory at year-end to verify amounts shown on the company's accounting records.
• E) All of the answers are correct.

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Definitions:

High-Price Strategy

A marketing strategy in which a firm sets the price of its products higher than the competition, typically to signal superior quality.

Tit-For-Tat Strategy

A strategy in game theory where a participant replicates the opponent's previous action, often used to foster cooperation or retaliate in competitive scenarios.

Bottled Water

Packaged water for consumption, sold in plastic or glass bottles.

Dominant Strategy

In game theory, a strategy that is the best for a player to follow no matter what the opponent does.