If You Are Trying to Prevent Failure, It Is a Good

question 221

True/False

If you are trying to prevent failure, it is a good idea to go into the business with good record-keeping techniques.

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Definitions:

Personal Responsibility

An individual's obligation to ensure their actions, decisions, and behaviors uphold personal and societal standards.

Sarbanes-Oxley

U.S. federal law enacted in 2002 aimed at protecting investors from fraudulent accounting activities by corporations, requiring enhanced financial disclosures and audits.

Accounting Fraud

The intentional manipulation of financial statements by individuals inside an organization to deceive stakeholders and gain an unlawful advantage.

Political-Legal Environment

The aspect of the external environment that involves the impact of political decisions and legal regulations on an organization.