According to IFAC, Which of the Following Is Not One

question 33

Multiple Choice

According to IFAC, which of the following is not one of the elements of quality control?

• A) Independence.
• B) Supervision.
• C) Acceptance and continuance of clients.
• D) Due professional care.

Comprehend the perpetual inventory system and its application in accounting for sales.

Calculate gross profit from provided financial information.

Apply the periodic inventory system in journalizing transactions.

Prepare necessary closing entries from an adjusted trial balance.

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Definitions:

Multimedia Principle

The educational concept that learning is improved when information is presented using both words and relevant visuals, rather than words alone.

Firsthand Experience

Direct exposure or engagement with events or situations, gaining knowledge or skills from being personally involved.

Assertions

Statements that declare or affirm something to be true, often used as a basis of argument or evidence in discussions.

Trustworthiness

The quality of being reliable, honest, and dependable, often considered essential in building and maintaining strong interpersonal relationships.