One Example of Internal Controls Is

question 45

Multiple Choice

One example of internal controls is

• A) leaving all financial decisions to the sole discretion of the CFO.
• B) having budgets that aren't reconciled against the plan.
• C) allowing a single individual to complete the payment cycle in a payment system.
• D) relying solely on a computerized accounting system to make payments.
• E) the separation of duties for authorizing and making payments.

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Definitions:

Milli-

A prefix in the metric system denoting a factor of one thousandth (1/1000) of the unit it precedes.

Metric System

A system of measurements that uses the base function of 10.

Base Ten

A numeral system that is decimal and uses ten as its base for counting and calculations.

Teaspoon

A small spoon used typically for measuring or stirring liquids, equivalent to about 5 milliliters in volume.