Multiple Choice
Which one of the following is not an objective of a system of internal control?
A) Safeguard company assets
B) Overstate liabilities in order to be conservative
C) Enhance the accuracy and reliability of accounting records
D) Reduce the risks of errors
Correct Answer:
Verified
Correct Answer:
Verified
Q10: Fitzgerald Company wrote checks totaling $34,160 during
Q11: Allowing only the treasurer to sign checks
Q12: Shane Company gathered the following reconciling information
Q13: Related buying activities include<br>A)ordering, receiving, paying.<br>B)ordering, selling,
Q14: Carothers Company assembled the following information in
Q16: The duties of approving an item for
Q17: Trudy, Inc.had the following bank reconciliation at
Q18: The principles of internal control activities are
Q19: The custodian of a company asset should<br>A)have
Q20: For efficiency of operations and better control