To Maintain Effective Internal Control, the Majority of All Payments

question 101

True/False

To maintain effective internal control, the majority of all payments in an organization should be made using checks.

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Definitions:

Third-Party Involvement

The involvement of an external party in negotiations or conflict resolution who is not directly involved in the dispute.

Indirect Pressure

A subtle or non-explicit form of influence exerted to persuade or coerce someone into a decision or action.

Holding Out

The act of not agreeing or yielding in a negotiation or discussion, with the aim of achieving a more favorable outcome.

Sanctioned

Given authoritative approval or permission; also can mean subjected to a penalty for wrongdoing.