The Internal Controls of a Business Are Designed to Reduce

question 91

True/False

The internal controls of a business are designed to reduce the probability of occurrence of fraud.

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Definitions:

Financing Activities

Activities that result in changes in the size and composition of the equity capital or borrowings of a company.

Long-Term Debt

A financial obligation that is due for repayment in more than one year's time.

Ten-Year Treasury Note

A government debt security issued by the U.S. Treasury with a ten-year maturity, which pays interest to the holder every six months.

Cash Equivalent

Short-term, highly liquid investments that are easily convertible to known amounts of cash and close to their maturity.