Once a Good System of Internal Control Is in Place,it

question 90

True/False

Once a good system of internal control is in place,it rarely needs review.

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Definitions:

CCA Deduction

Stands for Capital Cost Allowance deduction, a tax deduction in certain jurisdictions that allows businesses to deduct the depreciated value of capital assets.

Corporate Tax Rate

The tax rate imposed on the net income of a corporation by the government.

Tax Shield

The reduction in income taxes that results from taking an allowable deduction from taxable income, such as the interest on debt.

Stand-Alone

Describes something that operates independently or can function without the need for external support.