A Good System of Internal Control

question 24

Multiple Choice

A good system of internal control:

• A)Urges adherence to prescribed managerial policies
• B)Insures profitable operations
• C)Eliminates the need for an audit
• D)Requires the use of non-computerized systems
• E)Is not necessary if the company uses a computerized system

---

Definitions:

James Otis

An American lawyer in the 18th century known for his outspoken opposition to the Writs of Assistance and the British policies that led to the American Revolution.

Sugar Act

A law passed by the British Parliament in 1764 designed to raise revenue from the American colonies by imposing a tax on sugar and molasses imported from places outside the British Empire.

Sugar Act

A law passed by the British Parliament in 1764, lowering the duty on imported molasses, aiming to strengthen the collection of trade duties under the Navigation Acts.