When Duties Cannot Be Segregated,the Most Important Internal Control Procedure

question 18

Multiple Choice

When duties cannot be segregated,the most important internal control procedure is

• A)supervision
• B)independent verification
• C)access controls
• D)accounting records

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Definitions:

Unit Elastic

A scenario in demand or supply where a percentage change in price leads to an equal percentage change in quantity demanded or supplied.

Tax Lowered

The reduction of the rates at which individuals or corporations are taxed by the government.

Demand and Supply

Refers to the economic model that determines the price of goods in a market based on the quantity demanded by consumers and the quantity supplied by producers.

False and Deceptive

Activities or practices that intentionally mislead consumers or misrepresent facts for gain.