Internal controls have four fundamental purposes.Which of the following pairs an internal control for XBRL with an appropriate purpose of internal control?
A)Centralized approval process for taxonomy additions, encouraging compliance with management directives
B)Daily data backups, safeguarding assets
C)Both centralized approval process for taxonomy additions, encouraging compliance with management directives and daily data backups, safeguarding assets
D)Neither centralized approval process for taxonomy additions, encouraging compliance with management directives nor daily data backups, safeguarding assets

Question

Quizplus · Accepted Answer

Centralized approval process for taxonomy additions ensures compliance with management directives, which is a purpose of internal control.

Internal Controls Have Four Fundamental Purposes