Policies and Procedures Designed to Reduce the Opportunities for Fraud

question 42

Multiple Choice

Policies and procedures designed to reduce the opportunities for fraud are often called:

• A) Internal controls.
• B) Asset source transactions.
• C) Accounting standards.
• D) Financial systems.

---

Definitions:

Cognitive Styles

The preferred way an individual processes information, often influencing learning, problem-solving, and decision-making.

Intuitive Feelers

Individuals who make decisions based on intuition and subjective evaluation, often considering personal and others' feelings.

Proactive Managers

Leaders who anticipate future challenges and opportunities and take early action to address them effectively.

Contingency Plans

Prepared strategies to address unforeseen or unexpected events, ensuring that operations can continue or be quickly restored.