Effective Internal Control Requires a Department to Purchase Supplies on Its

question 91

True/False

Effective internal control requires a department to purchase supplies on its own.

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Definitions:

Code Letter

A specific sequence of characters used for classification or identification purposes, often secret or abbreviated.

Code Letter

A symbol or abbreviation used to represent an item, category, or instruction in a system of classification or identification.

FOB

Free On Board, a term used in shipping to indicate who is responsible for payment of transportation and insurance.

Freight

The charge paid for the transportation of goods, typically by sea, air, or land.