The Purpose of Preventive Controls Is to Discover Fraud or Errors

question 42

True/False

The purpose of preventive controls is to discover fraud or errors that may have occurred
during transaction processing and to rectify those errors.

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Definitions:

Income Increase

A rise in the amount of money received, especially on a regular basis, through work, investments, or other sources.

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity demanded.

Supply Analysis

The examination and evaluation of the supply side of the market, focusing on factors such as production capacity, supplier behavior, and costs.

Primary Industry

The sector of the economy that extracts and harvests natural resources directly from the Earth, such as agriculture, mining, and forestry.