Which of the Following Is a Poor Internal Accounting Control

question 97

Multiple Choice

Which of the following is a poor internal accounting control feature?

• A) Division of work
• B) Combining accountability with custodianship
• C) Rotation of personnel
• D) Internal auditing

Recognize the legal consequences and penalties for violations of the FTC Act and other related consumer protection laws.

Describe the process and outcomes of administrative hearings conducted by the FTC.

Grasp the roles and regulations of consumer protection acts such as the Fair Credit Reporting Act (FCRA), Equal Credit Opportunity Act (ECOA), and Magnuson-Moss Warranty Act.

Understand the specifics and legal implications of the Truth in Lending Act (TILA) including disclosure requirements and debtor protections.

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Definitions:

Assurance-Of-Supply Strategies

Tactics employed to ensure a continuous and reliable supply of necessary resources and materials.

Supply

The total amount of a product or service available for purchase or consumption.

Demand

Represents the quantity of a product or service desired by consumers at a certain price point and time.

Operational Risks

The potential for loss resulting from inadequate or failed internal processes, people, systems, or external events within an organization's operations.