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:

Problem Recognition

The initial step in the consumer decision process, where a consumer identifies a need or problem that requires a solution.

Competitive Improvement

The process of enhancing a company's market position by improving its competitive capabilities, such as efficiency, product quality, or innovation.

Problem Recognition

The initial step in the buying process, where a consumer identifies a need or problem that requires a solution.

Information Search

The process by which consumers gather details about products, services, and other relevant information to make an informed purchase decision.