Prisoners Can Receive Federal Funding for Postsecondary Education

question 11

True/False

Prisoners can receive federal funding for postsecondary education.

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Definitions:

Internal Controls

Internal controls are the mechanisms, rules, and procedures implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Sarbanes-Oxley Act

A U.S. federal law that aims to protect investors by making corporate disclosures more reliable and accurate.

Compensating Balance

A minimum bank account balance that a borrower is required to maintain as a condition for some forms of loans or line of credit.

Petty Cash Fund

A small amount of cash kept on hand to pay for minor, incidental expenses of a business, recorded as a current asset on the balance sheet.