The Objectives of Internal Control Are to Ensure Efficient Operations

question 21

Multiple Choice

The objectives of internal control are to ensure efficient operations and provide reasonable assurance of all of the following EXCEPT

• A) business information is accurate.
• B) assets are safeguarded and used for business purposes.
• C) employees and managers comply with laws and regulations.
• D) profits are maximized while minimizing spending.

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Definitions:

Marvel

A multimedia company renowned for its vast universe of superheroes, comics, movies, and merchandise.

Growth Strategy

A plan of action designed by a business to increase its level of operations and competitiveness, aiming for higher profits and market share.

Market Penetration

A strategy aimed at increasing the market share of an existing product or promoting a new product through aggressive marketing techniques.

Growth Strategy

A plan of action designed to increase the size and scope of a business, by expanding its customer base, markets, or product offerings.