Internal control applicable to ________________________ may logically be extended to the entire purchase or acquisition cycle.
Internal control applicable to ________________________ may logically be extended to the entire purchase or acquisition cycle.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Internal control applicable to ________________________ may logically be extended to the entire purchase or acquisition cycle.
Expert Solution
What is Internal Control:
It is the process of assuring the organizations' activities are performed efficiently and effectively in order to achieve the organization's predetermined objectives.
Effective Internal control aids in preventing fraudulent activities in the organization and promotes accoutability.
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