Which One of the Following Best Defines an Internal Event

question 55

Multiple Choice

Which one of the following best defines an internal event in terms of accounting?

• A)Every type of transaction is an internal event
• B)An event recognized in a set of financial statements
• C)A happening of consequence to an entity
• D)An event occurring entirely within an entity

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Definitions:

Integration

The process of combining or coordinating separate elements so as to provide a harmonious, interrelated whole.

Task Environment

The immediate external elements including competitors, customers, suppliers, and regulatory agencies that directly influence an organization's operations and performance.

Competitors

Businesses or individuals that are in the same market and vie for the same customers or resources.

Employees

Individuals who are hired by a company or organization to perform specific duties in exchange for compensation, such as wages or salaries.