A Small Business Owner Can Best Offset the Lack of Separation

question 70

Multiple Choice

A small business owner can best offset the lack of separation of duties by:

• A)creating an internal audit department.
• B)installing the latest computer equipment and software.
• C)being actively involved in the accounting process.
• D)relying on the external auditor to detect errors.

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Definitions:

Deception

The act of misleading or falsely convincing others that a particular reality exists, when it does not.

Ageist Attitudes

Prejudices or discrimination against individuals or groups based on their age, often resulting in stereotyping and limiting opportunities.

Informed Consent

A process ensuring participants are fully aware of the potential risks and implications involved in a study or procedure before agreeing to participate.

Voluntary Participation

The principle that individuals freely choose to participate in an activity, study, or research without coercion or undue influence.