Which One of the Following Is not an Objective of a System

question 38

Multiple Choice

Which one of the following is not an objective of a system of internal controls?

• A)Safeguard company assets.
• B)Enhance the accuracy and reliability of accounting records.
• C)Fairness of the financial statements.
• D)Reduce the risks of errors.

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Definitions:

Price Ceiling

A government-imposed limit on how high a price can be charged on a product or service, typically set below the equilibrium price to make goods more affordable.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price over a specified period.

Quantity Supplied

The amount of a good or service that sellers are willing and able to sell at a particular price over a specified period.

Quota

An official constraint on trade that controls the volume or monetary amount of items permitted for export or import during a designated period.