An Appraisal of an Organization's Accounting and Financial Procedures Conducted

question 90

Multiple Choice

An appraisal of an organization's accounting and financial procedures conducted by employees of that organization is known as a(n) :

• A) internal audit.
• B) debt audit.
• C) ratio audit.
• D) external audit.
• E) liquidity audit.

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Definitions:

Low-margin Business

A business that operates with a small difference between the cost to produce goods or services and the selling price, resulting in low profit margins.

Adding Capacity

The process of increasing the potential output of a business to meet expected demand.

Leadership

The act of guiding or influencing a group towards achieving its goals, often involving making strategic decisions, motivating individuals, and fostering teamwork.

Authority

The power or right to give orders, make decisions, and enforce obedience, often associated with positions of leadership or governance.