Those Controls That Are Relevant to Implementing Good Internal Control

question 20

Multiple Choice

Those controls that are relevant to implementing good internal control processes within specific transaction cycles are called:

• A) general controls.
• B) transaction processing controls.
• C) management controls.
• D) all of the above.

---

Definitions:

Net Present Value

A financial metric that calculates the present value of all cash inflows and outflows from a project or investment, taking into account the time value of money.

Internal Rate of Return

The discount rate that makes the net present value of all cash flows from a particular project equal to zero.

Average Payoff

A measure used in decision theory and game theory to determine the expected value of an investment or decision under uncertainty.

Payoff Table

A table that shows the possible outcomes or payoffs of different decisions under various states of nature or scenarios.