To Access the Timeliest Information, It Is Important to Gather

question 19

Multiple Choice

To access the timeliest information, it is important to gather ____ on an industry. ​

• A)secondary data
• B)primary data
• C)blogs and social networking
• D)trade associations ​
• E)None of these choices

---

Definitions:

Cash Overage

A situation where the amount of cash on hand is greater than the expected amount, often due to errors in cash management or recording.

Internal Control System

A process implemented by management and other personnel to provide reasonable assurance regarding the achievement of objectives in effectiveness and efficiency of operations, reliability of financial reporting, and compliance with laws and regulations.

Purpose

The reason for which something is done or created, or for which something exists.

Voucher System

An accounting system that involves preparing and approving vouchers before transactions are recorded and payments made, to ensure financial controls.