Multiple Choice
Internal controls are designed to accomplish five objectives that include compliance with legal requirements,promote operational efficiency,safeguard assets,encourage employees to follow company policy and:
A) prevent misappropriation of assets.
B) prevent collusion.
C) prevent fraud.
D) ensure accurate,reliable accounting records.
Correct Answer:
Verified
Correct Answer:
Verified
Q99: Internal control is a plan of organization
Q100: Internal control procedures do NOT include:<br>A)smart hiring
Q101: Dooley Company sent a deposit of $7,000
Q102: Which of the following is a CORRECT
Q103: Internal controls to safeguard assets means the
Q105: Outstanding checks are checks that have been
Q106: A company can limit employees' access to
Q107: The following information is available for Golden
Q108: In a bank reconciliation,an EFT cash payment
Q109: If a bank statement included a bank