Which of the Following Is Not an Element of Internal

question 9

Multiple Choice

Which of the following is not an element of internal controls?

• A) to protect assets from misuse
• B) ensure the accuracy of business information
• C) ensure that laws and regulations are followed
• D) ensure that company policies are in place to maximize profits

Know the importance and methods of citation to support academic integrity.

Identify the characteristics and uses of primary and secondary research in problem-solving.

Understand the basic concept and purpose of a proposal.

Grasp the steps involved in the report process from inception to conclusion.

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Definitions:

Work In Process

Inventory consisting of items that are in the production process but are not yet complete.

Factory Overhead

Every expense linked to manufacturing that doesn't include the cost of direct materials and wages for direct labor.

Equivalent Units

A term used in cost accounting to express the amount of unfinished goods in terms of complete units of output.

Direct Materials

Direct materials are raw inputs that are directly consumed in the manufacturing process of a product and can be directly attributed to that product.