Internal Controls Normally Include Procedures Designed to Provide Reasonable Assurance

question 94

Multiple Choice

Internal controls normally include procedures designed to provide reasonable assurance that:

• A)employees act with integrity when performing their assigned tasks.
• B)transactions are executed in accordance with management's authorization.
• C)decision processes leading to management's authorization of transactions are sound.
• D)collusive activities would be detected by segregation of employee duties.

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Definitions:

Business Model

A plan for making a profit by generating revenues that are greater than costs.

Core Values

Fundamental beliefs or principles that guide the behavior and decision-making processes within an organization.

Organization's Purpose

The fundamental reason for an organization's existence, often reflected in its mission and vision statements.

Mission Statement

A formal summary of the aims and values of a company, organization, or individual.