The objectives of internal control are to
A) control the internal organization of the accounting department personnel and equipment.
B) provide reasonable assurance that assets are safeguarded,information is processed accurately,and laws and regulations are complied with.
C) prevent fraud and promote the social interest of the company.
D) provide control over "internal-use only" reports and employee internal conduct.
Correct Answer:
Verified
Q44: A firm's internal control environment is influenced
Q45: A business that requires that all cash
Q46: Internal control does NOT consist of policies
Q47: Which of the following reflects a weak
Q48: In preparing a bank reconciliation,the amount of
Q50: Money market accounts,commercial paper,and U.S.Treasury Bills are
Q50: Risks can be analyzed to:
A) assess their
Q53: Internal controls are important because they
A)prevent fraud
Q54: In preparing a bank reconciliation,the amount indicated
Q80: An element of internal control is
A) risk
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents