Which of the Following Is a Good Rule for Handling

question 67

Multiple Choice

Which of the following is a good rule for handling exceptions?

• A) Only some people should be allowed to request exceptions.
• B) The requestor and approver should be different people.
• C) The exception should be documented.
• D) All of the above.

---

Definitions:

Common Size Income Statement

A financial statement that presents all items as a percentage of a common base figure, making it easier to analyze changes and compare financial performance over time.

Net Income

The total profit of a company after all expenses, taxes, and costs have been subtracted from total revenue, indicating financial health.

Return On Assets

A financial metric that measures the profitability of a company in relation to its total assets.

Profit Margin

A financial metric that measures the amount of net income earned with each dollar of sales by calculating the percentage of revenue that translates into profits.