Internal control is a process effected by the organization's board of directors,management,and other personnel to provide reasonable assurance of achieving certain objectives.Which of the following does not fit into one of these categories of objectives?
A)Reliability of financial reporting.
B)Compliance with laws and regulations.
C)Continuing existence.
D)Effectiveness and efficiency of operations.

Question

Quizplus · Accepted Answer

The categories of objectives mentioned in the statement are reliability of financial reporting, compliance with laws and regulations, and effectiveness and efficiency of operations. Continuing existence is not one of these categories, as it is not directly related to the internal control process, but rather a general business objective.

Internal Control Is a Process Effected by the Organization's Board