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An Activity ________ Is a Temporary Account Accumulating the Costs

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Short Answer

An activity ________ is a temporary account accumulating the costs a company incurs to support an identified set of activities.

Recognize the responsibility of management in establishing an effective system of internal control.
Appreciate the objectives of a system of internal control, including the safeguarding of assets.
Understand the importance of maintaining multiple bank accounts for efficiency and better control over cash.
Grasp why systems of internal control are necessary for companies of all sizes.

Definitions:

Accountability

The obligation of an individual or organization to account for its activities, accept responsibility for them, and to disclose the results in a transparent manner.

Institutional Racism

A system of policies and practices entrenched in established institutions, which result in the unfair disadvantage to individuals or groups based on race.

Cultural Competency

The ability to understand, appreciate, and interact effectively with people from different cultures.

Microaggressions

The everyday, subtle, intentional — and oftentimes unintentional — interactions or behaviors that communicate some sort of bias against historically marginalized groups.

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