Safeguarding the assets the business uses in its operations is the sole purpose of an effective system of internal control.

Name: Safeguarding the assets the business uses in its operations is the sole purpose of an effective system of internal control.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

An effective system of internal control serves multiple purposes, including safeguarding assets, ensuring financial reporting accuracy, promoting operational efficiency, and encouraging adherence to policies and compliance with laws and regulations.

Safeguarding the Assets the Business Uses in Its Operations Is