Which of the Following Statements About Internal and External Control

question 87

Multiple Choice

Which of the following statements about internal and external control is/are accurate?

• A)Effective control typically involves some combination of internal and external control.
• B)Organizations are increasingly relying on external control because of the emphasis on participation,empowerment,and involvement in the new workplace.
• C)An internal control strategy requires a high degree of trust.
• D)A and C.
• E)A,B,and C.

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Definitions:

Ending Inventory

The total value of a company's merchandise, raw materials, and products left unsold at the end of an accounting period.

Moving Average

A statistical measure used to analyze data points by creating a series of averages of different subsets of the full data set.

Cost Of Goods Sold

Represents the direct costs attributable to the production of the goods sold in a company.