Which of the Following Statements About Internal Control Is True

question 103

Multiple Choice

Which of the following statements about internal control is true?

• A) Internal auditors ensure that the employees follow company policies.
• B) The treasurer and controller have the same responsibilities.
• C) External auditors are employees of the company they audit.
• D) The internal control procedures are known as the "tone at the top."

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Definitions:

Average Value

Represents the arithmetic mean of a set of values, obtained by dividing the sum of all values by the number of values.

Holding Constant

Maintaining certain variables unchanged while allowing others to vary, used in experiments and analyses to isolate effects.

Degrees of Freedom

The number of independent values or quantities that can vary in an analysis without breaking any constraints.

Coefficient of Determination

A statistical measure represented by R^2 that explains the proportion of the variance in the dependent variable that is predictable from the independent variable(s).