Bank Exams Questions

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Internal control, as defined in accounting and auditing, is a process for assuring achievement of an organization's objectives in operational effectiveness and efficiency, reliable financial reporting, and compliance with laws, regulations and policies. A broad concept, internal control involves everything that controls risks to an organization.

Internal control is all of the policies and procedures management uses to achieve the following goals.

• Safeguard University assets - well designed internal controls protect assets from accidental loss or loss from fraud.

• Ensure the reliability and integrity of financial information - Internal controls ensure that management has accurate, timely and complete information, including accounting records, in order to plan, monitor and report business operations.

• Ensure compliance - Internal controls help to ensure the University is in compliance with the many federal, state and local laws and regulations affecting the operations of our business.

• Promote efficient and effective operations - Internal controls provide an environment in which managers and staff can maximize the efficiency and effectiveness of their operations.

• Accomplishment of goals and objectives - Internal controls system provide a mechanism for management to monitor the achievement of operational goals and objectives.

Hence, Internal controls are concerned with safeguarding assets.

Speed in a given direction is called Velocity.

Let the smaller number be 'm'

Then, from the given data, the larger number is '3m'

Given that m + 3m = 44

=> 4m = 44

m = 44/4 = 11

=> m = 11

=> 3m = 3 x 11 = 33

Hence, the two numbers are 11 and 33.

Meaning of Discordant = Harsh

That implies Harsh opposite is soft.

Prokaryotic cells lack a nucleus and do not have an extensive system of interior membranes. They are encased in a cell wall and many contain external structures such as a capsule, flagellum, or pili. Prokaryotes – have a relatively uniform interior that is not subdivided by internal membranes.

HURRAYS.

The part of the earth and its atmosphere in which living organisms exist or that is capable of supporting life is called Biosphere.