Which of the Following Is Not a Component of Internal

question 4

Multiple Choice

Which of the following is not a component of internal control in financial areas?

• A)Approval authority
• B)Good records maintenance
• C)Consolidation of duties
• D)Safeguards

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Definitions:

Union Representation Elections

Elections conducted to determine whether employees want to be represented by a union, often overseen by a governmental agency to ensure fairness.

First Contract Settlement

The initial agreement reached between a newly unionized employer and the union, setting the precedent for future negotiations.

New Public Management

An approach towards public administration that emphasizes efficiency, decentralization, and the adoption of private sector management practices within the public sector.

Free Market Ideas

Economic principles that advocate for minimal government intervention in the marketplace, allowing the forces of supply and demand to determine prices and production.