Corrective Controls Remedy Problems Discovered with Detective Controls

question 19

Multiple Choice

Corrective controls remedy problems discovered with detective controls.What is not a corrective control procedure?

• A)identify the cause of a problem
• B)deter problems before they arise
• C)correct resulting errors or difficulties
• D)modify the system so that future problems are minimized or eliminated

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Definitions:

Balance Sheet

This details a business's financial condition by listing its assets, debts, and the equity of its shareholders on a specific date.

Economic Resources

Assets, natural resources, labor, and capital that can be used for the production of goods and services, fundamental to economic activity.

Income Statement

A financial statement that shows a company's revenues, expenses, and profits over a specific period of time.

Economic Performance

A measurement of how well an economy, sector, or company is performing in terms of income, output, and growth.