Internal Control Is a Process Designed to Provide Absolute Assurance

question 34

Multiple Choice

Internal control is a process designed to provide absolute assurance regarding achieving objectives in which of the following?

• A) efficiency and effectiveness of operations
• B) reliability of reporting
• C) compliance with applicable laws and regulations
• D) none of the above

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Definitions:

Opinion

A belief or judgment formed about something, not necessarily based on fact or knowledge.

Misrepresentation

A false statement of fact made by one party to another, which has the effect of inducing that party into a contract.

Exaggerated Claim

A statement or claim that exceeds the truth or reality, usually made to deceive or mislead.

Fraudulent

Involves deceitful conduct designed to manipulate another person or entity, typically for personal gain.