Internal control is a process affected by the organization's board of directors, management, and other personnel to provide reasonable assurance of achieving certain objectives. Which of the following does not fit into one of these categories of objectives?
A) Reliability of financial reporting.
B) Compliance with laws and regulations.
C) Continuing existence.
D) Effectiveness and efficiency of operations.

Question

Quizplus · Accepted Answer

The other choices (A, B, and D) all fit into categories of objectives for internal control. Specifically, A relates to financial reporting, B relates to compliance with laws and regulations, and D relates to effectiveness and efficiency of operations. However, "continuing existence" is not typically considered one of the main objectives of internal control.

Internal Control Is a Process Affected by the Organization's Board