The Internal Control Objective of 'Real' Refers to Controls in Place

question 71

True/False

The internal control objective of 'real' refers to controls in place to ensure that fictitious or
duplicate transactions are not included in the books and records of the organization.

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Definitions:

Rigidly Defined

Described or specified with strictness and inflexibility.

Flexible

Capable of bending easily without breaking; adaptable to change or capable of being modified to suit different conditions or uses.

Natural Selection

A fundamental mechanism of evolution where organisms better adapted to their environment tend to survive and produce more offspring.

Highly Flexible

Capable of being easily modified to adapt to new conditions or to bend or move without breaking.