Thomas Is in Charge of Taking Formal Minutes During an Institute

question 6

Multiple Choice

Thomas is in charge of taking formal minutes during an Institute of Internal Auditors chapter meeting. Which of the following is the best advice for him to follow as he prepares these minutes?

• A)Record only new business because old business will appear in previous minutes.
• B)Avoid using the exact wording of motions because that would be too time consuming.
• C)Record voting results and actions taken.
• D)Omit his name and signature as the person recording the minutes because he is acting on behalf of the organization.

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Definitions:

Positive Abnormal Earnings

Earnings that exceed what is normally expected, based on historical trends or industry standards, often indicating superior performance.

Sustainable Earnings

Refers to the portion of a company's income considered to be predictable, repeatable, or likely to continue in the future.

Repeat Customers

Individuals or entities that make more than one purchase from a business, indicating customer loyalty and satisfaction.

Debt Retirement

The process of paying off debt before or at its maturity date, effectively removing it from the company's balance sheet.