In the Following Situation,which Internal Control Procedure Needs Strengthening

question 113

Multiple Choice

In the following situation,which internal control procedure needs strengthening?
- Hofstra Services hired a new clerk to keep custody of and maintain all the equipment in the equipment yard.That employee has not yet been adequately trained on the maintenance needs of the equipment.

• A) Assignment of responsibilities
• B) Competent, reliable, and ethical personnel
• C) Separation of duties
• D) Documents

---

Definitions:

Payoff Matrix

A table that shows the potential outcomes of different strategies in a game or decision-making situation.

Compete

The act of entities striving against each other to attain a goal, such as a higher market share or win.

Cooperate

The act of working together towards a common goal or benefit.

Nonprice Competition

Strategies companies use to differentiate their product from competing products based on factors not related to price, such as quality or service.