If a Company Has Multiple Planning Levels,the Plans Must Be

question 89

Multiple Choice

If a company has multiple planning levels,the plans must be:

• A)consistent and all must help achieve individual goals.
• B)approved by all departments within an organization.
• C)adhered to regardless of external factors.
• D)consistent and all must help achieve the overall goals of the corporation.
• E)the same for each strategic business unit.

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Definitions:

Fraud Committee

A group formed within an organization tasked with overseeing the detection, investigation, and prevention of fraudulent activities and ensuring financial integrity.

Segregation of Duties

An internal control measure that involves dividing responsibilities among different people to reduce the risk of error or inappropriate actions in financial transactions.

Authorize and Pay

The process of approving financial transactions or disbursements and executing the payment accordingly.

Control Principle

An accounting principle that states the need for procedures and measures to regulate and ensure the accuracy of financial records.