Which of the Following Is NOT Correct? an Effective Internal

question 14

Multiple Choice

Which of the following is NOT correct? An effective internal control system for any organisation is one that:

• A) discourages inefficient use of resources.
• B) helps management safeguard assets.
• C) assists management in controlling the company.
• D) ensures all errors and irregularities are eliminated.

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Definitions:

Deflation

A decrease in the general price level of goods and services, often indicating reduced consumer demand or increased supply.

International Trade Agreements

Treaties between two or more nations that outline the rules and regulations for trade between them, facilitating smoother and increased trade.

Monetary Unions

Monetary unions are agreements between two or more states to share a common currency and monetary policy, aimed at facilitating economic stability and integration, such as the European Monetary Union.

Currency Exchange Rate

The price of one country’s currency in terms of another country’s currency.