An Effective System of Internal Control Requires That Individuals Take

question 7

True/False

An effective system of internal control requires that individuals take periodic vacations.

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Definitions:

Measurable

Capable of being quantified or expressed in numerical terms for assessment or comparison.

Organizational Culture

The shared values, beliefs, norms, and practices that shape the social and psychological environment of a business or institution.

Behavioral Norms

are the standard or expected ways of behaving in a social group or culture.

Formally Approving

Refers to the official authorization or acceptance of an action, policy, or agreement by an authoritative body.