An Example of an Internal Control Is

question 47

Multiple Choice

An example of an internal control is:

• A)the use of bank account.
• B)all checks are prenumbered.
• C)all checks written must have reference source documents.
• D)All of these answers are correct.

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Definitions:

Units Sold

The total number of product units that have been sold during a specific period.

Franchise

A business model that allows individuals or entities to operate a business under an established brand and business system in exchange for fees and adherence to certain standards.

Equipment

Tangible property used in operations, such as machinery or computers, that has a useful life beyond a single reporting period.

Depreciation

The process of allocating the cost of a tangible asset over its useful life.