Three Objectives of a Company's Internal Control System Should Be

question 59

Multiple Choice

Three objectives of a company's internal control system should be safeguarding assets, checking the accuracy and reliability of accounting data, and promoting operational efficiency.A fourth objective of a company's internal control system should be:

• A)Preventing embezzlement of assets
• B)Encouraging adherence to prescribed managerial policies
• C)Avoiding the payment of overtime to company employees
• D)Revising standards for production costs on a weekly basis

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Definitions:

Prop Root

An adventitious root that arises from the stem and provides additional support for a plant such as corn.

Buttress Root

A bracelike root at the base of certain trees that provides upright support.

Pneumatophore

Roots that extend up out of the water in swampy areas and are thought to provide aeration between the atmosphere and submerged roots.

Storage Root

A root modified for the storage of nutrients and energy, typically in the form of carbohydrates, as seen in carrots and beets.