Answer:
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Answer:
b) People who operate and function within the control system.
Explanation:
Internal controls are the process and mechanisms that an organization puts in place to ensure the integrity of its accounting and financial information. Internal control helps a business achieve operational efficiency and effectiveness. It ensures that a company financial reporting complies with the relevant laws, policies, and regulations.
The people working in internal control determines whether the mechanisms will succeed or fail. Employees assigned in internal control must be of high integrity and be able to discharge their duties without fear or favor. Internal control protects company resources from theft, wastage, or misuse. For internal control to achieve its purpose, the Individuals in that department must not comprise in any situation.
Answer:
The correct answer is letter "B": False.
Explanation:
A decentralized organization is one in which most decisions are taken by low range managers. On the other hand, centralized firms are characterized by following the guidelines of high-level executives. Decentralized companies have the same reporting structure as centralized institutions but each of them working at their hierarchy level.
Answer: " DECREASES" .___________________________________
Answer:
B. No, approval by an individual other than the requestor establishes greater accountability over inventory.
Explanation:
This step is required as it will ensure control over inventory usage.