In the Area of Finance and Investment,the Involvement of Two

question 32

True/False

In the area of finance and investment,the involvement of two or more persons in each important functional responsibility could be considered a compensating control.

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Definitions:

Unforeseen Difficulties

Challenges or complications that could not have been predicted or expected, often affecting the execution of plans or projects.

Past Consideration

A concept in contract law that refers to an act or benefit given prior to the promise being made, which therefore does not constitute valid consideration for a contract.

Stock Options

Financial derivatives that give the holder the right, but not the obligation, to buy or sell a stock at a predetermined price within a specific period.

Promissory Estoppel

A legal principle that prevents a party from backing out of a promise which led the other party to take action or abstain from it, based on the promise.