It Is Not Necessary for Businesses to Reconcile Their Checking

question 148

True/False

It is not necessary for businesses to reconcile their checking accounts since banks keep accurate records and provide internal control support for cash.

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Definitions:

Authority-And-Responsibility

Concerns the distribution of tasks and the accompanying expectation of accountabilities within an organization, ensuring that individuals have the rights and obligations to execute their roles.

Scalar Principle

An organizational principle that outlines a clear and direct line of authority in the hierarchy from the top of the organization to the lowest level.

Boundaryless Organizations

Organizations that are not defined by, or limited to, traditional hierarchical structures or physical boundaries, enabling more fluid and flexible approaches to business operations.

Network Structures

Organizational designs that involve multiple nodes or entities interconnected to facilitate information flow and collaborative operations.