Internal Control Encompasses Which of the Following Elements of an Organization

question 12

Multiple Choice

Internal control encompasses which of the following elements of an organization?

• A) processes
• B) culture
• C) systems
• D) all of the above

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Definitions:

Economic Cycles

Fluctuations in economic activity experienced by a country or the global economy over time, including periods of expansion, peak, contraction, and trough.

Pension Plans

Financial programs established by employers or governments to provide income to employees after retirement.

Corporate Restructuring

The process of reorganizing the structure of a corporation to increase profitability, efficiency, or adapt to a changing environment.

Demotion

A reduction in rank, position, or status of an employee within an organization.