Which of the following is an objective of internal control?
A) to encourage employees to follow company policies
B) to ensure timely payment of accounts payable
C) to ensure timely collection of accounts receivable
D) to guarantee that a business makes a profit

Question

Quizplus · Accepted Answer

The objective of internal control is to ensure that company policies and procedures are followed by all employees, which helps to promote efficiency, prevent fraud, and ensure accuracy of financial reporting. It is not the objective of internal control to ensure timely payment of accounts payable, timely collection of accounts receivable, or guarantee a profit for the business.

Which of the Following Is an Objective of Internal Control