Which of the Following Is Not One of the Three

question 37

Multiple Choice

Which of the following is not one of the three steps taken by a corporation to assure the accuracy of its records?

• A)Implementing a system of internal controls.
• B)The hiring of an independent auditor to report on the fairness of the financial statements.
• C)The hiring of a financial analyst.
• D)The formation of a committee made up of board of directors' members to oversee the integrity of its safeguards utilized.

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Definitions:

Facilities

Physical buildings and structures that are equipped for a particular purpose, such as production, research, or services.

Finished Goods

Products that have completed the manufacturing process and are ready to be sold to customers.

Raw Materials

The basic substances or components that are processed or combined to manufacture finished goods.

Work in Process

Inventory that includes all items that are currently being manufactured but are not yet completed products.