In the Following Situation, Which Internal Control Procedure Needs Strengthening

question 121

Multiple Choice

In the following situation, which internal control procedure needs strengthening? At Syria Services, the accounting clerk fills out unnumbered purchase order forms for purchases of supplies. An operations engineer completes the form with a detailed description of the supplies being ordered, and the operations manager approves the purchase and passes the purchase order back to the accountant for processing.

• A)assignment of responsibilities
• B)competent, reliable, and ethical personnel
• C)separation of duties
• D)documents

Evaluate strategies for maximizing store traffic through pricing and services.

Understand the principles of capacity pricing in service industries.

Assess pricing strategies for new product offerings.

Understand the impact of advertising on product demand elasticity.

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Definitions:

Quality of Life

Quality of life refers to the general well-being of individuals and societies, outlining negative and positive features of life. It's a broad range of human experiences related to one's overall happiness, health, and fulfillment.

Global Gender Gap Index

A framework and report by the World Economic Forum measuring gender equality across countries based on economic, educational, health, and political indicators.

Medium

A means or instrumentality for storing or communicating information.

Specific Invoice Method

An inventory valuation method that tracks each item in inventory by its specific cost and invoice.