Define internal control.
What will be an ideal response?
Internal control is the organizational plan and all the related measures adopted by an entity to safeguard assets, encourage employees to follow company policies, promote operational efficiency, and ensure accurate and reliable accounting records.
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Which of the following includes activities for the successful switch from the old to the new AIS?
a. analysis b. design c. implementation d. operation
Which of the following is a potential problem with the objective/task method of setting a budget?
A. It assumes that marketing activities result from demand. B. It is rarely used by major advertisers and is therefore unfamiliar and alienating to consumers. C. It assumes a static external environment and renders marketing strategies inflexible. D. It does not permit the quick and ready measurement of the success of an ad campaign. E. It requires determining in advance the amount of money needed to reach a specific goal.
In the cycle of complete strategic planning, taking corrective action is a part of ________
A) planning B) implementation C) controlling D) organizing E) analyzing
The ______ of authority is a hierarchy that narrows as it flows from the top down the organization.
a. span b. width c. scope d. breadth