In Order to Assure That Accounting Information Is Accurate and to Avoid

question 71

Multiple Choice

In order to assure that accounting information is accurate and to avoid potentially costly mistakes in the decision making process,firms should:

• A)Design and monitor an effective system of internal accounting controls.
• B)Have the internal auditors and controller each check the accounting data before it is released to management.
• C)Purchase an accounting system that is designed specifically for the industry in which the firm conducts business.
• D)Develop and implement a code of ethics.

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Definitions:

Hyperpolarization

An increase in the membrane potential of a cell, making the inside of the cell more negative relative to the outside and reducing the likelihood of firing an action potential.

Plasma Membrane

The lipid bilayer that encases cells, controlling the movement of substances in and out of the cell and facilitating communication and signaling.

Neuronal Pathway

Networks of neurons that transmit signals between different parts of the brain or from the brain to the rest of the body.

Divergent

Tending to be different or develop in different directions, or, in evolutionary terms, related organisms evolving different characteristics.