The Most Cost-Effective Type of Internal Control Is

question 137

Multiple Choice

The most cost-effective type of internal control is

• A)preventive control
• B)accounting control
• C)detective control
• D)corrective control

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Definitions:

Internet Tax Freedom Act

A U.S. law enacted in 1998 that bars federal, state, and local governments from taxing Internet access and imposing discriminatory internet-only taxes such as bit taxes, bandwidth taxes, and email taxes.

Tax Collections

The process of gathering taxes by government authorities from individuals and businesses.

Taxable Income

The portion of an individual's or corporation's income that is subject to taxation by governmental authorities.

Tax-Exempt

Not subject to tax by federal or local governments, often applied to charitable organizations or certain financial earnings.