The Main Purposes of Internal Controls Include

question 18

Multiple Choice

The main purposes of internal controls include:

• A)prevention of error,theft,and fraud.
• B)promotion of efficiency.
• C)ensuring compliance with laws and regulations.
• D)all of the above.

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Definitions:

Standardized Worldwide Pricing

A pricing strategy where a company charges the same price for its products or services across different countries, not accounting for local market conditions or costs.

Staff Positions

Roles within an organization that are primarily focused on support functions, advising management rather than being involved directly in operational activities.

Line Positions

Positions within an organization that are directly involved in core business operations and have direct responsibility over achieving the organization's goals.

Authority

The power or right to give orders, make decisions, and enforce obedience.