Internal Control Is an Organizational Plan That Ensures That the Financial

question 170

True/False

Internal control is an organizational plan that ensures that the financial statements are prepared and submitted on time.

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Definitions:

Nominal Group Technique

A structured method for group brainstorming that encourages contributions from everyone and is used to generate and prioritize ideas.

Interacting Groups

Groups of individuals who come together to achieve common goals and are characterized by regular communication and interdependence.

Trust

The confidence or belief in the integrity, reliability, and fairness of a person or system.

Nominal Group Technique

A structured method for group brainstorming that encourages contributions from everyone in the group and is used to generate and prioritize ideas.