The Use of Internal Controls Cannot Guarantee Protection Against Losses

question 59

True/False

The use of internal controls cannot guarantee protection against losses due to fraud,errors,and inefficiencies.

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Definitions:

Benchmark Firms

Companies that are considered to be the best in their industry or category and whose practices are used as a standard or comparison in benchmarking studies.

Supply-Chain Performance

The assessment of how effectively and efficiently a supply chain operates, often measured by metrics such as delivery time, quality, and cost.

Bar Code

A machine-readable representation of information typically used for identifying and tracking items through a series of parallel lines and spaces.

Radio Frequency Technology

Technology that utilizes radio waves to transmit data and communicate between devices without direct wire connections.