Internal Control Has Four Major Purposes in Organizations

question 19

Multiple Choice

Internal control has four major purposes in organizations.Ways to achieve at least one of the four include: (i) requiring supervisory review of how complex transactions are recorded in the journal, (ii) using general ledger software such as Peachtree.

• A)I only.
• B)II only.
• C)Both I and II.
• D)Neither I nor II.

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Definitions:

Pros and Cons

The advantages and disadvantages of a particular decision, action, or situation.

Synthesize Information

The process of combining pieces of information from different sources to form a cohesive, comprehensive understanding or new insight.

Social Networking

The use of online platforms and websites to connect with others, share information, interests, and activities.

Action Plan

A detailed strategy outlining the steps, actions, and resources required to achieve specific goals.