Which of the Following Best Defines Internal Control

question 7

Multiple Choice

Which of the following best defines internal control?

• A) Internal rules and/or regulations with which organizations are expected to comply regarding accounting standards and preparation of financial data.
• B) A process by which management gains reasonable assurance that its objectives will be achieved.
• C) Procedures for input of and access to information systems used for internal analysis of an organization's short-term and long-term objectives.
• D) A system of checks and balances that allows an organization to maintain control over its resources (data, systems, and all other assets).

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Definitions:

Enzymes

Biological molecules that act as catalysts, speeding up reactions in living organisms without being consumed in the process.

ATP

or Adenosine triphosphate is the primary energy carrier in all living organisms, providing energy for most biochemical cellular processes.

Weak Acid

An acid that partially dissociates into its ions in solution, resulting in a less complete release of hydrogen ions.

Reaction Rate

The speed at which a chemical reaction occurs, influenced by factors such as temperature, concentration, and presence of catalysts.