All of the Following Statements Regarding Internal Control Procedures Are

question 103

Multiple Choice

All of the following statements regarding internal control procedures are true except:

• A)Internal control procedures are designed to ensure reliable financial reports.
• B)Internal control procedures are designed to safeguards company assets.
• C)Internal control procedures direct operations toward common goals.
• D)Internal control procedures include methods to achieve compliance with laws and regulation.
• E)Internal control procedures are not affected by the cost-benefit principle.