A Company's Internal Control System

question 4

Multiple Choice

A company's internal control system:

• A)Eliminates the risk of loss.
• B)Monitors and controls business activities.
• C)Eliminates human error.
• D)Eliminates the need for audits.
• E)Is not necessary in large companies.

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Definitions:

Combination Circuit

A circuit that contains both series and parallel paths.

Series Components

Electrical components connected in a circuit in such a manner that there is only one path for current flow, causing the current through each component to be the same.

Parallel Components

Elements in an electrical circuit are said to be in parallel if they are connected across the same two points in the circuit, allowing electric current to split and flow through multiple paths.

Current Flow

The flow of electric charge carriers like electrons, through a conductor or electrical circuit.