Which of the following is a benefit provided by internal control?
A)It ensures timely collection of accounts receivables.
B)It ensures that collusion will never happen.
C)It guarantees that a business makes profit.
D)It promotes operational efficiency.

Question

Quizplus · Accepted Answer

Internal control promotes operational efficiency by identifying areas for improvement and implementing measures to reduce waste, streamline processes, and increase productivity. It ensures that the organization's resources are used effectively and efficiently, resulting in better performance and profitability. However, it does not guarantee a business makes a profit, nor can it guarantee that collusion will never happen as it is impossible to completely eliminate the possibility of fraudulent activities.

Which of the Following Is a Benefit Provided by Internal