Hanover Company has established internal control policies and procedures in order to achieve the following objectives: 1) Safeguard the company's assets.
2) Assure that the accounting records contain reliable information.
3) Effective evaluation of management performance.
4) Assure that employees comply with company policy.
Which of these objectives are achieved by accounting controls?
A)Objectives 1 and 2
B)Objectives 2 and 3
C)Objectives 3 and 4
D)All four objectives

Question

Quizplus · Accepted Answer

Accounting controls are designed to safeguard company assets and ensure reliable accounting records. Objectives 3 and 4 relate to administrative controls.

Hanover Company Has Established Internal Control Policies and Procedures in Order