Sam Doesn't Bother to Record Checks in His Checkbook

question 99

Multiple Choice

Sam doesn't bother to record checks in his checkbook.He just goes to an ATM and asks for a "Balance Inquiry." Then he knows if he has enough money to pay his bills.This is an internal control ________.

• A)strength
• B)weakness
• C)law
• D)regulation

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Definitions:

Investment

The expenditure on capital goods including buildings, machinery, and equipment, intended to enhance future production or yield future returns.

Net Exports

The difference between a country's total value of exports and its total value of imports over a specific time period.

GDP

Gross Domestic Product is the total valuation of all products and services generated inside a nation's boundaries during a certain time frame.

Sectors

Distinct subsets of the economy, categorized by the type of activity involved, such as the agriculture, manufacturing, or services sectors.