Each of the Following Is a Feature of Internal Control

question 186

Multiple Choice

Each of the following is a feature of internal control except

• A) physical controls that limit access to assets.
• B) recording of all transactions.
• C) periodic independent verification.
• D) television commercials to enhance marketability.

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Definitions:

Financial Reporting

The process of disclosing financial information to various stakeholders (investors, creditors, regulators) about a company's financial performance and operations.

Economic Incentive

A motivator or incentive system that influences the economic actions and behavior of individuals or organizations by offering rewards or penalties.

Financial Information

Data regarding the financial status, operations, and performance of an organization.

Raise Capital

The process by which a company or organization secures financial resources or funds from external sources to fund its operations, investments, or growth plans.