Internal control quiz

Internal control quiz

Professional Development

12 Qs

quiz-placeholder

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Internal control quiz

Internal control quiz

Assessment

Quiz

Business

Professional Development

Practice Problem

Medium

Created by

Pratish Shakya

Used 4+ times

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12 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 10 pts

Who is responsible for the implementation of internal controls in NGOs?

Board

Management

Auditor

Donors

2.

MULTIPLE CHOICE QUESTION

45 sec • 10 pts

Which of the following is a key component of internal controls specific to nonprofit organizations

Profit margin analysis

Program effectiveness assessment

Inventory management

Product pricing strategy

3.

MULTIPLE CHOICE QUESTION

45 sec • 10 pts

In the context of nonprofit governance, which entity is typically responsible for setting policies, overseeing finances, and ensuring the organization's mission is fulfilled?

Donors

Board

Members

Social Welfare Council

4.

MULTIPLE CHOICE QUESTION

45 sec • 10 pts

What is the primary role of governance in an NGO?

Fund Raising

Strategic Direction and Oversight

Day to Day Operations

Reporting

5.

MULTIPLE CHOICE QUESTION

45 sec • 10 pts

What is the first step in designing an effective internal control system?

Developing Policies

Implementing Policies

Conducting a Risk Assessment

Conducting Audit

6.

MULTIPLE CHOICE QUESTION

45 sec • 10 pts

What is the term for dividing responsibilities among multiple individuals to prevent fraud?

Delegation of authority

Segregation of duties

Staff rotation

Risk sharing

7.

MULTIPLE CHOICE QUESTION

45 sec • 10 pts

What is the primary objective of NGO procurement processes?

To support local suppliers exclusively

To minimize paperwork

To achieve value for money while ensuring compliance

To spend the least amount of money

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