Internal controls are procedures set up to
A)Protect assets.
B)Ensure company policies are followed.
C)Ensure accounting reports are free from error, neutral and complete.
D)Promote efficiency.
E)All of these answers are correct.

Question

Quizplus · Accepted Answer

Internal controls serve a range of purposes including safeguarding assets, ensuring adherence to company policies, promoting efficiency and accuracy in accounting reports. Thus, all of the given options (A through D) are correct purposes of internal controls.

Internal Controls Are Procedures Set Up to