The objectives of internal control are to
A) control the internal organization of the Accounting Department personnel and equipment
B) provide reasonable assurance that assets are safeguarded and used for business purposes, financial reports are accurate, and laws and regulations are complied with
C) prevent fraud and promote the social interest of the company
D) provide control over "internal-use only" reports and employee internal conduct

Question

Quizplus · Accepted Answer

The objectives of internal control are to provide reasonable assurance that assets are safeguarded and used for business purposes, financial reports are accurate, and laws and regulations are complied with. The other choices are not accurate or comprehensive enough to describe the objectives of internal control.

The Objectives of Internal Control Are to