Which of the following is TRUE of internal control?
A)A company's outside auditor is responsible for the company's internal control system.
B)Internal control procedures tend to diminish the importance of operational efficiency.
C)One of the major purposes of internal control is to ensure accurate, reliable accounting records.
D)Internal controls are only necessary for large businesses.

Question

Quizplus · Accepted Answer

Internal control systems are designed to ensure the accuracy and reliability of a company's accounting records, among other objectives.

Which of the Following Is TRUE of Internal Control