A Group of Investigators Are Investigating a Recent Airplane Crash

question 97

Multiple Choice

A group of investigators are investigating a recent airplane crash in Lucitona. The investigators discovered debris of the aircraft, which provided them the information regarding the nature of the plane crash. Because the flight data recorder (a device that preserves the recent history of the flight) of the airplane was completely destroyed in the plane crash, the investigators were unable to determine what exactly went wrong. The absence of the flight data recorder led the investigators to call off the investigation. It can be concluded that the investigation was called off because:

• A) the information at disposal was inaccurate.
• B) the information at disposal was incomplete.
• C) the information at disposal was irrelevant.
• D) the information at disposal was untimely.

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Definitions:

Efficient Funds Transfer

The process of transferring money from one bank account to another swiftly and cost-effectively.

Bank Reconciliation

This process ensures that a company's or individual's accounting records (check register) match up with the bank's records, often revealing discrepancies.

Internal Control System

A set of procedures and mechanisms implemented by a business to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Bank Statement

A bank statement is a summary of financial transactions that have occurred over a given period in a bank account, provided by the bank to the account holder.