As a Business Grows and the Owner Must Rely More

question 49

Multiple Choice

As a business grows and the owner must rely more on others to help in managing operations, internal control becomes:

• A) more important.
• B) less important.
• C) unnecessary.
• D) growth has no effect on the importance of internal control.

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Definitions:

Tax Purposes

For tax purposes implies considerations or actions taken to comply with tax laws and regulations, often aimed at optimizing one’s tax liabilities.

Maya Record Keeping

The system used by the ancient Maya civilization for recording astronomical observations, historical events, and calendrical information using glyphs.

Glyphs

Symbolic characters or figures that convey specific meanings, often found in writing and art of ancient cultures.

Pictograms

Simple images or symbols used to convey information or represent words, concepts, or instructions without the use of written language.