A Small Business Owner Can Best Offset the Lack of Separation

question 70

Multiple Choice

A small business owner can best offset the lack of separation of duties by:

• A)creating an internal audit department.
• B)installing the latest computer equipment and software.
• C)being actively involved in the accounting process.
• D)relying on the external auditor to detect errors.

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Definitions:

Personal Economics

The study of how individuals manage their resources, including money, time, and skills, to meet personal and family needs and goals.

Non-Work Factors

Elements not related to one's job or professional responsibilities, such as personal issues or external activities, that can influence one's performance and well-being.

Stress

A physical, mental, or emotional factor that causes bodily or mental tension, potentially resulting from adverse or demanding circumstances.

Moods

Generalized positive and negative feelings or states of mind.