Internal control relates to an organization's achievement of objectives in three major categories. Which of the following best pairs one of the categories with a specific example?
A)Effectiveness & efficiency of operations, fulfilling the requirements of the Foreign Corrupt Practices Act
B)Effectiveness & efficiency of operations, listing appropriate assets at their current market value
C)Reliability of financial reporting, fulfilling the requirements of the Foreign Corrupt Practices Act
D)Reliability of financial reporting, listing appropriate assets at their current market value

Question

Quizplus · Accepted Answer

Reliability of financial reporting involves ensuring that financial statements are accurate and complete, which includes listing appropriate assets at their current market value.

Internal Control Relates to an Organization's Achievement of Objectives in Three