Internal Control Procedures Do Not Include

question 78

Multiple Choice

Internal control procedures do not include:

• A)Procedures to ensure reliable financial reports.
• B)Safeguards to protect company assets.
• C)Methods to achieve compliance with laws and regulation.
• D)Procedures to guarantee against fraud.
• E)Policies to direct operations toward common goals.

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Definitions:

Voluntary Turnover

Occurs when employees choose to leave a company for personal reasons, such as a new job opportunity or relocation.

Downsizing

The process of reducing the size of a company's workforce to cut costs, which can involve layoffs, selling parts of the business, or outsourcing.

Outsourcing

The practice of hiring third parties to perform services or create goods that were previously done in-house, often to cut costs or improve efficiency.

Core Business

The primary area of a company's operation or the main source of its profitability, representing its fundamental mission or the key focus of its commercial activity.