Which of the Following Statements Concerning Internal Control Is True

question 7

Multiple Choice

Which of the following statements concerning internal control is true?

• A) Double entry accounting is an internal control.
• B) Fraud will be eliminated by good internal control practices.
• C) Physical counts of stock on hand are not part of internal control procedures.
• D) It is OK to pay accounts out of unbanked receipts as long as a note is made of what has occurred.

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Definitions:

Real Roots

Real roots are the values of the variable that satisfy an equation, where the solutions are real numbers.

Calculator

An electronic or mechanical device used to perform mathematical operations.

Irrational

A term describing a number that cannot be expressed as a ratio of two integers; its decimal representation does not terminate or repeat.

Rational

A rational number is any number that can be expressed as the quotient or fraction of two integers.