A Control Which Ensures That Long-Term Borrowing Is Properly Initiated

question 40

Multiple Choice

A control which ensures that long-term borrowing is properly initiated by appropriate individuals addresses the control assertion of:

• A)occurrence.
• B)authorization.
• C)completeness.
• D)valuation.

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Definitions:

Economy

The system of production, distribution, and consumption of goods and services in a particular geographical region.

Exports

Goods or services that are produced in one country and sold to customers in other countries.

Tariff

A tax on imported goods, usually designed to protect domestic industries and to generate revenue.

Political Popularity

The level of public approval or support for a politician or political party.