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Internal Control Is a Process Designed to Guarantee the Achievement

question 50

True/False

Internal control is a process designed to guarantee the achievement of the objectives of reliable financial reporting, compliance with laws and regulations and ineffective and inefficient operations.


Definitions:

Nonretentive Outputs

Nonretentive outputs in digital electronics are outputs that do not retain their state after a device is powered down or reset.

Retentive Outputs

Outputs in a PLC that retain their state even after the PLC is turned off or goes through a cycle, ensuring continuity of operations.

Jump Backward

An instruction or operation that causes a program to continue its execution from an earlier point.

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