Controls Which Provide a Means of Ensuring That the Physical

question 136

Multiple Choice

Controls which provide a means of ensuring that the physical counts are properly summarized, priced at the same amount as the unit records, correctly extended and totaled, and included in the general ledger at the proper amount are known as

• A) standard cost controls.
• B) pricing internal controls.
• C) compilation internal controls.
• D) count quantity internal controls.

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Definitions:

Physical Space

The tangible, three-dimensional environment in which objects and events occur and have relative position and direction.

Company Culture

The unique combination of a company’s vision, values, norms, systems, symbols, language, assumptions, beliefs, and habits.

Flexible Working Hours

Employment terms that allow employees to vary their start and end times, promoting work-life balance.

Contract Workers

Contract workers are individuals hired by a company on a temporary basis to complete specific tasks or projects, typically without the long-term commitments or benefits associated with regular employment.