The Procedures for Proper Record-Keeping Should Be Spelled Out In

question 43

Multiple Choice

The procedures for proper record-keeping should be spelled out in:

• A) run manuals.
• B) minutes of the board of directors.
• C) the corporate bylaws.
• D) systems manuals.

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Definitions:

Best Use

Optimal allocation or application of resources to maximize efficiency or value.

Positive Statement

An objective statement based on factual information or data that can be tested or rejected through observation.

Normative Statement

A value-based statement that expresses an opinion about what ought to be rather than what is factual.

Oil Refineries

Facilities where crude oil is processed and refined into more useful petroleum products, such as gasoline, diesel fuel, and heating oil.