The Internal Control That Requires an "Independent Verification of Calculations

question 20

Multiple Choice

The internal control that requires an "independent verification of calculations and amounts" satisfies the objective of

• A)occurrence.
• B)completeness.
• C)accuracy.
• D)posting and summarization.

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Definitions:

Ticket Price

Ticket Price is the cost paid to obtain admission to an event, such as a concert, movie, or sporting event.

Tourist Demand

The quantity of tourism products and services that tourists are willing and able to purchase at different prices during a time period.

Price Discrimination

A pricing strategy where a company sells the same product or service at different prices to different customers, based on factors like willingness to pay, market segment, and purchase location.

Increase Profits

Increase Profits means enhancing the financial gain left after subtracting the expenses from the total revenues, aiming for a higher bottom line through various strategies like reducing costs or increasing sales.