An Element of Internal Control Is

question 87

Multiple Choice

An element of internal control is:

• A)generally accepted accounting principles.
• B)control procedures.
• C)special-purpose fund.
• D)electronic funds transfer.

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Definitions:

Wrongful Termination

The unfair or illegal firing of an employee in violation of contractual or statutory requirements.

Franchisee

An individual or entity that purchases the right to operate a business under the franchisor's brand name and business model.

Franchisor

A business entity that grants the right to an individual or group to carry out commercial activities using its brand and model.

Potential Liability

The possibility of incurring legal obligations or debts in the future as a result of current actions, decisions, or circumstances.