All of the Following Are Examples of Inherent Controls Except

question 61

Multiple Choice

All of the following are examples of inherent controls except _____.

• A) range minimums and maximums
• B) broad bands
• C) budgets
• D) performance evaluation

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Definitions:

Treasury Stock

Shares that were issued and later reacquired by the issuing company, reducing the amount of outstanding stock on the open market.

Debit Balance

A debit balance is the amount of money that a business or individual owes; it reflects transactions that have been debited to an account, increasing the total debit.

Board Of Directors

A group of individuals elected by shareholders to oversee the management and make major decisions for a corporation.

Corporate Registrar

A corporate registrar is an entity responsible for maintaining a company’s register of shareowners and managing share issues and transfers.