Policies and procedures used to promote efficient company operations are known as
A) Asset controls
B) Internal controls
C) Management controls
D) Cash controls
E) Inventory control

Question

Quizplus · Accepted Answer

Internal controls are policies and procedures put in place by a company to ensure efficient operations, accuracy of financial reporting, and compliance with laws and regulations. Asset controls, management controls, cash controls, and inventory control are all subsets of internal controls.

Policies and Procedures Used to Promote Efficient Company Operations Are