For Good Internal Control

question 140

Multiple Choice

For good internal control:

• A) the purchasing agent should also receive the goods.
• B) the purchasing agent should also approve the invoice for payment.
• C) the purchasing agent should not receive the goods or approve the invoice.
• D) the purchasing agent should not order the goods.

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Definitions:

Public Goods

Goods that are non-excludable and non-rivalrous, meaning they can be used by anyone without preventing others from using them as well.

Voluntary Contributions

Donations or services provided by individuals or organizations willingly without any legal or social obligation.

Public Radio

Radio stations that are funded by public sources, such as government grants and listener donations, rather than commercial advertising.

Free-rides

The situation where individuals consume a public good without contributing to its cost, benefiting from others' contributions.