The Sole Purpose for Creating an Internal Control System Is

question 68

True/False

The sole purpose for creating an internal control system is to deter embezzlement.

Grasp the implications of joint and several liability in commercial contracts.

Learn the defenses available to sureties and guarantors in the event of a default.

Understand the concept of being "judgment-proof" in the context of debt obligations.

Recognize the risks associated with different types of credit transactions from the perspective of creditors.