Internal Control Helps an Organization Achieve All of the Following

question 19

Multiple Choice

Internal control helps an organization achieve all of the following EXCEPT

• A) reliable financial reporting.
• B) compliance with relevant laws and regulations.
• C) absolute assurance that fraud will not occur.
• D) effective and efficient operations.

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Definitions:

Stock Market

A public marketplace for buying and selling shares of publicly listed companies.

Recession

A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.

Government Spending

Expenditure by the government in any given period, typically on public services, defense, infrastructure, and social welfare programs.

Regulation

Rules or directives made and maintained by an authority to regulate behavior, usually in the context of business, financial markets, or a profession.