Which of the Following Is an Objective of Internal Control

question 19

Multiple Choice

Which of the following is an objective of internal control?

• A) to encourage employees to follow company policies
• B) to ensure timely payment of accounts payable
• C) to ensure timely collection of accounts receivable
• D) to guarantee that a business makes a profit

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Definitions:

Economic Value Added

A measure of a company's financial performance that shows the net profit earned above the cost of capital.

Definition

A statement that explains the meaning of a term or a concept.

Pure Play Approach

A method of evaluating investment risk by focusing on a single industry or sector, assuming the business operates solely within that domain.

Definition

A statement expressing the essential nature of something.