To Maintain Adequate Records and Documents in a Manual General

question 72

Multiple Choice

To maintain adequate records and documents in a manual general ledger system, there are two important requirements.These are:

• A)A well-defined chart of accounts & adequate general ledger
• B)An adequate audit trail & adequate internal controls
• C)A well-defined chart of accounts & adequate audit trail
• D)An adequate general ledger & adequate internal controls

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Definitions:

Exclusive Dealership

A business arrangement in which a dealer is granted the exclusive right to sell a manufacturer's product in a specific geographical area.

Control Systems

Mechanisms or regulations designed to direct or manage the behavior of machines, processes, or organizations towards desired outcomes.

Ethical Behavior

Conduct that is consistent with principles of moral and professional norms, including honesty, fairness, and integrity.

Ethical Work Environment

A work setting where moral standards guide practices and behaviors, fostering trust and integrity among employees and with clients.