A Very Small Company Would Have the Most Difficulty in Implementing

question 69

Multiple Choice

A very small company would have the most difficulty in implementing which of the following internal control activities?

• A)Separation of duties.
• B)Limited access to assets.
• C)Periodic independent verification.
• D)Sound personnel procedures.

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Definitions:

Sales Budget

A financial plan detail outlining projected sales for a specific period, guiding marketing and production strategies.

Capital Expenditures Budget

A financial plan detailing a company's projected spending on fixed assets such as buildings and equipment.

Accounting Period

A specific time frame during which financial transactions are recorded and financial statements are prepared, typically lasting twelve months.

Capital Expenditures Budget

A financial plan for a company's planned acquisitions of long-term assets, such as property, plant, and equipment, that are expected to provide benefits over many years.