Internal Controls

question 113

Multiple Choice

Internal controls

• A) are implemented by and are the responsibility of the auditors.
• B) consist of policies and procedures designed to provide reasonable assurance that the company achieves its objectives and goals.
• C) guarantee that the company complies with all laws and regulations.
• D) only apply to SEC companies.

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Definitions:

Lengthy Unemployment

An extended period during which an individual is without a job and actively seeking work.

Organizational Plan

A structured outline or strategy designed to achieve specific goals within an organization.

Good Information

Accurate, useful, and relevant data or facts that can aid in decision-making or understanding a topic.

Skills And Abilities

The competencies and capabilities that an individual possesses, which enable them to perform tasks effectively.