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:

Open Primary

A primary election where voters are not required to declare party membership to vote for their preferred candidate for a public office.

Majority System

A voting system in which a candidate or proposition must receive more than half of the votes to win.

Electoral College Vote

A process used in the United States to elect the president and vice-president, where electors from each state vote based on the popular vote within their state.

Popular Vote

The total number of votes cast by citizens in an election, as opposed to electoral college votes or legislative votes.