Which One of the Following Is Not a Factor That

question 137

Multiple Choice

Which one of the following is not a factor that influences a business's control environment?

• A) management's philosophy and operating style
• B) organizational structure
• C) proofs and security measures
• D) personnel policies

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Definitions:

Non-Sufficient Funds

A situation where a bank account does not have enough money to cover a transaction, resulting in a failed payment.

Outstanding Checks

Checks that have been issued by a company but have not yet been cashed or cleared by the bank upon which they are drawn.

Bank Statement

A monthly report from a bank that shows deposits recorded, checks cleared, other debits and credits, and a running bank balance. This same information is available on a daily basis from the bank’s online banking site.

Credit Terms

The conditions under which credit is extended by a seller to a buyer, including payment deadline, discount for early payment, and service charge for late payment.