Which of the following best explains one of the four basic purposes of internal control?
A) Eliminating error.
B) Uncovering fraud.
C) Promoting confidence in financial statements.
D) Eliminating the need for audits.
Correct Answer:
Verified
Q14: Making operations as efficient as possible is:
A)
Q15: The general objectives of internal control include
Q16: According to Enterprise Risk Management: Integrated Framework,
Q17: Among other things, internal controls should promote
Q18: According to the COSO definition, internal control
Q20: Insufficient cash is an example of _
Q21: Insurance and bonding are examples of which
Q22: A foreign company wants to trade its
Q23: Which of the following internal controls is
Q24: Cortez works for a large retailer that
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