The Employee in Charge of Authorizing Credit to the Company's

question 55

Multiple Choice

The employee in charge of authorizing credit to the company's customers does not fully understand the concept of credit risk. This lack of knowledge would

• A) constitute a deficiency in operation of internal controls.
• B) constitute a deficiency in design of internal controls.
• C) constitute a deficiency of management.
• D) not constitute a deficiency.

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Definitions:

Patent Infringement

Occurs when a party makes, uses, sells, offers to sell, or imports into the United States any patented invention without permission from the patent holder, within the territory and during the term of the patent.

Copyright

A right granted to an author, composer, photographer, or artist to exclusively publish and sell an artistic or literary work for the life of the author plus 70 years.

Idea

A thought or suggestion as to a possible course of action, concept, or mental impression.

Expression

The act of conveying thoughts, feelings, or ideas, particularly in language, art, music, or movement.