Internal Controls Are Concerned With

question 4

Multiple Choice

Internal controls are concerned with:

• A)only manual systems of accounting.
• B)the extent of government regulations.
• C)protecting against theft of assets and enhancing the reliability of accounting information.
• D)preparing income tax returns.

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Definitions:

Incentives

Motivators or stimuli that encourage or promote certain behaviors or actions by offering rewards or benefits.

Market Size

The total number of potential buyers and sellers of a particular product or service within a given market.

Market Participants

Individuals and entities that engage in the buying, selling, and exchange of goods, services, and securities within an economic system.

Price Received

The actual amount of money that a seller gets from a buyer for a good or service, after discounts or adjustments.