Which of the Following Describes the Internal Control Component "Information

question 25

Multiple Choice

Which of the following describes the internal control component "information system?"

• A)Internal auditors monitor company controls to safeguard assets, and external auditors monitor the controls to ensure that the accounting records are accurate.
• B)Control procedures are designed to ensure that the business's goals are achieved.
• C)Only authorized users have access to various parts of the information system.
• D)The information system is the "tone at the top" of the business.

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Definitions:

Applied Overhead

An estimate of indirect costs assigned to individual jobs or activities based on a predetermined rate.

Direct Labor

The wages of workers or employees who are directly involved in the production of goods or services.

Applied Factory Overhead

The estimated amount of factory overhead costs assigned to individual units of production.

Continuous Process

A manufacturing or production process that operates 24/7 without interruption, typically in industries like chemicals or oil refining.