Match the Following Terms with Their Correct Definitions

question 176

Multiple Choice

Match the following terms with their correct definitions.
-methods and records used to identify,measure,record,and communicate financial information about a business

• A)accounting system
• B)business process risks
• C)control activities
• D)control environment
• E)internal control system
• F)safeguarding
• G)segregation of duties
• H)strategic risks

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Definitions:

Unit Selling Price

The price at which a single unit of a product is sold to consumers.

Compensation

Payment or reward given for services or to cover losses or damages, often relating to employment.

Remuneration

Compensation or payment received for services or employment, including wages, salaries, and bonuses.

Time-and-A-Half

A pay rate that is 1.5 times the employee's standard hourly rate, typically paid for overtime work.