Accounting controls primarily concern safeguarding assets and ensuring the reliability of the financial statements.

Question

Quizplus · Accepted Answer

Accounting controls are designed to prevent fraudulent activities and errors, protect company assets, and ensure the accuracy and reliability of financial statements. These controls include policies and procedures for managing cash, inventory, and other assets, as well as for recording transactions and preparing financial reports.

Accounting Controls Primarily Concern Safeguarding Assets and Ensuring the Reliability