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:

Conflict of Interest

Arises when a person or entity has competing interests or loyalties that could potentially interfere with the ability to make impartial decisions.

Workplace Dating

Romantic relationships that develop between co-workers within the same organization or business environment.

Insubordination

The act of refusing to obey orders from a superior or acting in a disrespectful manner towards authority figures in a professional context.

Achieve Dialogue

The process of facilitating and engaging in meaningful conversation to reach understanding or consensus.