Indicate whether each of the following statements regarding internal control is true or false.
-Accounting controls are composed of procedures designed to safeguard the assets of a business and to ensure that its accounting records contain reliable information

Question

Quizplus · Accepted Answer

This statement is true. Accounting controls are designed to protect a business's assets from loss, theft, or misuse and to ensure that its financial records are accurate and reliable. These controls can include procedures such as establishing segregation of duties, implementing security measures, and conducting regular audits.

Indicate Whether Each of the Following Statements Regarding Internal Control