Internal control has four major purposes in organizations.Ways to achieve at least one of the four include: (i) requiring supervisory review of how complex transactions are recorded in the journal, (ii) using general ledger software such as Peachtree.
A) I only.
B) II only.
C) Both I and II.
D) Neither I nor II.
Correct Answer:
Verified
Q13: Internal control relates to an organization's achievement
Q14: Omar is a general manager at FRD
Q15: Internal control has four major purposes in
Q16: Violating the provisions of the Foreign Corrupt
Q17: Purposes of internal control include:
A)Safeguarding assets.
B)Ensuring financial
Q19: Internal control is designed to provide:
A)Certainty.
B)Freedom from
Q20: According to the COSO definition, internal control
Q21: A speech by the company president about
Q22: Similarities between legal & regulatory risk and
Q23: COSO's Internal Control-Integrated Framework comprises a total
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents