The objectives of internal control are to ensure efficient operations and provide reasonable assurance of all of the following EXCEPT
A) business information is accurate.
B) assets are safeguarded and used for business purposes.
C) employees and managers comply with laws and regulations.
D) profits are maximized while minimizing spending.
Correct Answer:
Verified
Q1: An example of an internal control is
A)
Q2: Once an effective internal control system is
Q4: The drawer writes the cheque.
Q5: Internal control over a company's assets should
Q6: Endorsing a cheque
A) guarantees payment.
B) transfers the
Q7: When the bank pays a cheque written
Q8: Technological controls can include all of the
Q9: One internal control safeguard is to assign
Q10: The drawee of the cheque is the
Q11: When a bank debits your account, it
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