The Internal Controls of a Business Are Designed to Reduce

question 91

True/False

The internal controls of a business are designed to reduce the probability of occurrence of fraud.

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Definitions:

Installment Plan

A payment method that allows consumers to pay for goods or services with a series of monthly payments until the total debt is paid.

Necessaries

Items or services deemed essential for an individual’s subsistence and well-being, such as food, shelter, and medical care.

Disaffirmance

The right to reject or void a contract or agreement, typically used in context with minors and certain agreements.

Prevailing View

The most widely accepted perspective or opinion on a particular issue within a relevant community or field.