______________________________ in an Internal Control System Means Assessment by Management

question 99

Short Answer

______________________________ in an internal control system means assessment by management to determine whether the control plans in place are continuing to function appropriately over time.

---

Definitions:

Simple Interest

Interest calculated on the principal portion of a loan or deposit, without compounding.

Interest

Payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum, at a particular rate.

Housing Prices

The amount of money required to purchase residential properties, which fluctuates based on location, demand, and other factors.

Dream House

Idealized or perfect residential property that one aspires to live in, often customized or having specific desirable features.