Internal Controls Are Designed to Help and Protect All of the Following

question 18

Multiple Choice

Internal controls are designed to help and protect all of the following groups of people, EXCEPT

• A) Creditors
• B) Management
• C) Investors
• D) Tax collectors

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Definitions:

Supervisory Board

A group elected to oversee the management of an organization and make significant decisions on its behalf.

Corporate Structure

The organizational framework of a company, detailing the roles, responsibilities, and hierarchy within the organization.

Management

the process of directing, controlling, and coordinating the operations and resources of an organization or project.

Closely Held Corporations

Corporations where a small group of shareholders control the majority of the shares, often involving family ownership or a tight-knit group of investors.