Internal Controls Have Four Fundamental Purposes

question 55

Multiple Choice

Internal controls have four fundamental purposes.Which of the following pairs an internal control for XBRL with an appropriate purpose of internal control?

• A)Centralized approval process for taxonomy additions, encouraging compliance with management directives
• B)Daily data backups, safeguarding assets
• C)Both centralized approval process for taxonomy additions, encouraging compliance with management directives and daily data backups, safeguarding assets
• D)Neither centralized approval process for taxonomy additions, encouraging compliance with management directives nor daily data backups, safeguarding assets

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Definitions:

Prescription Drugs

Medicines that can only be obtained with a written order from a healthcare professional, used for diagnosing, treating, or preventing diseases.

Intoxicating Effects

The physiological and psychological effects caused by consuming substances that impair cognitive and physical functions.

Smokers Gain

Weight gain that is sometimes experienced after quitting smoking, attributed to an increased appetite and decreased metabolic rate.

Low-Tar Cigarettes

Cigarettes designed to produce less tar and nicotine on combustion compared to regular cigarettes, often perceived as a "healthier" option.