Which of the Following Is an Objective of Internal Control

question 48

Multiple Choice

Which of the following is an objective of internal control?

• A) Promoting strategic, tactical, and operational efficiency and effectiveness.
• B) The control environment.
• C) Risk assessment and management.
• D) All of the above are objectives of internal control.

Understand the concept of a ledger and its role in the accounting cycle.

Calculate account balances and changes therein based on transaction information.

Assess financial leverage and its implications for risk and debt management.

Understand the process and regulations surrounding the private placement of securities.

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Definitions:

Distorted Thought Process

A pattern of thinking that is irrational or illogical, often leading to inaccurate perceptions or conclusions.

Magnification

A cognitive distortion involving an exaggeration of the importance or size of an event or thought.

Behavioral

Relating to the actions or reactions of a person or animal in response to external or internal stimuli.

John Watson

An influential figure in the field of psychology, known for his work in developing the theory of behaviorism.