Compensating Controls in the Finance and Investment Cycle

question 28

Multiple Choice

Compensating controls in the finance and investment cycle

• A) Feature separation of duties by upper management.
• B) Feature involvement of two or more persons handling all important responsibilities.
• C) Include involvement by the external auditor.
• D) Include all the above.

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Definitions:

Cognitive Capabilities

The mental skills and abilities related to understanding, thinking, learning, and remembering.

Memory

The cognitive function that enables an individual to encode, store, retain, and subsequently recall information and past experiences.

Tertiary Circular Reaction

A cognitive development stage in infants aged 12 to 18 months where they experiment with new ways of playing and manipulating objects.

Morphemes

The smallest meaningful units in a language, such as root words, prefixes, and suffixes.