The Procedures Adopted by a Business to Safeguard Its Assets

question 8

Multiple Choice

The procedures adopted by a business to safeguard its assets, promote the reliability of accounting data and encourage compliance with management policies are:

• A) physical controls.
• B) cash budgets.
• C) internal controls.
• D) bank reconciliations.

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Definitions:

Scoria Cone

A small, steep volcanic cone made of volcanic ash, cinders, and bomb fragments ejected from a single vent.

Dome

1. A circular or elliptical anticlinal structure in which the rocks dip gently away in all directions. 2. A dome-shaped accumulation of lava and other volcanic materials. See also volcanic dome.

Conical

Conical describes a shape or object that narrows smoothly from a broad base to a point, resembling a cone.

Cylindrical

Having the shape of a cylinder, characterized by a circular cross section and straight sides.