All of the Following Are Goals of Internal Control Except

question 36

Multiple Choice

All of the following are goals of internal control except:

• A)reducing the risk of fraud.
• B)producing reliable and timely accounting information for use by people internal and external to the organization.
• C)minimizing the amount of income taxes that must be paid.
• D)adhering to laws and regulations.

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Definitions:

Arbitrary Value

A value that is decided without a specific standard or measure, often based on personal judgment or preference.

Annual Cash Flows

The total amount of money being transferred into and out of a business, especially affecting liquidity, over the course of a year.

Required Rate

typically refers to the minimum expected rate of return on an investment, necessary for it to be considered a viable option.

Required Rate

The minimum anticipated return an investor expects to achieve on an investment.