Which of the Following Is the Primary Goal of Internal

question 140

Multiple Choice

Which of the following is the primary goal of internal controls for cash payments?

• A)Ensure that the business pays only for properly authorized transactions.
• B)Confirm that the request for payments is made by someone who is approved to order goods or services of the type and amount requested.
• C)Ensure that the supplier charges only for items received at approved prices.
• D)Make payments only when a purchase is supported by complete voucher documentation.

Comprehend the role of government in business ownership, including public and cooperative ownership models.

Appreciate the tax implications and legal requirements for corporations, including the responsibility of top executives to verify financial statements.

Understand the factors that influence a firm's weighted average cost of capital (WACC).

Recognize the importance of considering project risk when evaluating investments.

---

Definitions:

Zone Of Danger

A legal doctrine that outlines the area within which a person can recover damages if they were put at risk of physical harm by someone else's negligence.

Contributory Negligence

A legal doctrine that can reduce the plaintiff's damages if they are found to have contributed to their own harm, even partially.

Strict Liability

A legal doctrine holding an individual or entity responsible for damages or harm caused by their actions or products, regardless of fault or intent.

Defenses Available

A rewording of legal strategies or claims that can be used by a defendant to reduce liability or dismiss a lawsuit.