A _____ Is a Set of Related Activities That Transform

question 51

Multiple Choice

A _____ is a set of related activities that transform inputs into outputs, thus adding value.

• A)divestment
• B)poka-yoke
• C)process
• D)portfolio

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Definitions:

Internal Control

Processes and procedures implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Audit Trail

A record that traces the detailed transactions relating to any operational, financial, or security process, allowing verification of the authenticity and integrity of transactions.

Direct Write-off Method

A method where uncollectable debts are charged to expense only when they are determined to be uncollectable.

Bad Debts

Refers to the amount of money owed to a company that is unlikely to be paid by the debtor, considered as a loss to the company.