The Quality of an Organization's Internal Controls Affect Which of the Following

question 28

Multiple Choice

The quality of an organization's internal controls affect which of the following?

• A) The reliability of financial data.
• B) The ability of management to make good decisions.
• C) The ability to remain in business.
• D) All of the above.

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Definitions:

Rule of Law

The principle that all individuals, institutions, and entities are accountable to laws that are publicly promulgated, equally enforced, and independently adjudicated.

Doctrines

Established principles or policies in law or religious beliefs that are taught and accepted as authoritative.

Administrative Law

The body of law that governs the activities of administrative agencies of government, including rules, regulations, procedures, and decisions.

Rescission

A remedy whereby a contract is canceled and the parties are returned to the positions they occupied before the contract was made; may be effected through the mutual consent of the parties, by their conduct, or by court decree.