Two Essential Functional Roles of Groups Are

question 34

Multiple Choice

Two essential functional roles of groups are:

• A) 'official' and 'unofficial'.
• B) 'amateur' and 'professional'.
• C) 'voluntary' and 'coercive'.
• D) 'task' and 'relational'.

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Definitions:

Internal Control

The processes and procedures implemented by a company to safeguard its assets, ensure accurate and reliable financial reporting, and promote compliance with laws and regulations.

Vulnerabilities Analysis

A process of identifying, quantifying, and prioritizing (or ranking) the vulnerabilities in a system, such as in information technology systems or energy supply systems.

Petty Cash

Petty cash refers to a small amount of cash on hand used for paying minor expenses in an organization to avoid writing checks for small amounts.

Journal Entry

is a record in accounting that represents the recording of a financial transaction, comprising debit and credit entries.