Internal control is an organizational plan that ensures that the financial statements are prepared and submitted on time.

Name: Internal control is an organizational plan that ensures that the financial statements are prepared and submitted on time.
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Question

Quizplus · Accepted Answer

Internal control is the organizational plan and all the related measures adopted by an entity to safeguard assets, encourage employees to follow company policies, promote operational efficiency, and ensure accurate and reliable accounting records.

Internal Control Is an Organizational Plan That Ensures That the Financial