Management Is Responsible for Establishing and Maintaining an Adequate System

question 114

True/False

Management is responsible for establishing and maintaining an adequate system of internal control.

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Definitions:

Small Business Development Center

A local resource that provides aspiring and existing small business owners with business training, consulting, and support, often funded by government and educational institutions.

Breakeven Point

The financial point at which costs equal revenues, such that no profit is made but no losses are incurred either.

Sales And Costs

A business concept that refers to the total revenue generated from goods or services sold and the expenses incurred in the production or delivery of those goods or services.

Business

An organization or enterprising entity engaged in commercial, industrial, or professional activities.