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Segregation of duties = related tasks divided among certain number of people so one person is not responsible for all tasks (to prevent fraud).
Independent Internal Verification= due to segregation of duties, one's work can be verified by another.
i.e. surprise verification by managers of daily transactions & record keeping.
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Vivi
BeauSegregation of duties involves dividing tasks and responsibilities among different individuals to prevent fraud and errors. Independent internal verification involves having a separate party verify the accuracy and completeness of financial information or activities to ensure reliability and integrity of the data. Both practices are important internal controls to mitigate risks and enhance accountability.
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What is the difference between internal and external source of data?
An external source of data is a connection to an external data base and contains data that does not change much. The difference of internal source of data is data that can change because it comes from sources inside an organization including inventory transactions, purchase orders, and sales.
Explain Internal Level of a database?
The internal level of a database represents how data is physically stored and organized within the database system. It deals with details such as data structures, storage methods, indexing techniques, and algorithms used for data retrieval and manipulation. Database management systems use the internal level to efficiently manage the storage and retrieval of data at a low level.
Where would you find internal information?
Internal information can typically be found within an organization's database, intranet, company files, or through communication with colleagues, managers, or other internal stakeholders. It is information that is specific to the organization and not readily available to the public.
What are disadvantages of internal data?
Disadvantages of internal data include potential biases from limited perspectives, outdated or inaccurate information, and lack of diversity in data sources. Additionally, internal data may not provide a complete picture of the market or customer behavior.
What phylum has an internal calcareous skeleton?
The phylum Echinodermata has an internal calcareous skeleton made up of plates or ossicles. This skeleton provides support and protection for organisms in this phylum, such as sea stars and sea urchins.
