Which of the Following Is Not an Objective of Internal

question 124

Multiple Choice

Which of the following is not an objective of internal control?

• A) Reliability of financial reporting
• B) Effectiveness and efficiency of operations
• C) Relevance of financial statements
• D) Compliance with applicable laws and regulations

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Definitions:

Swiss Francs

Swiss Francs are the currency of Switzerland, known for their stability and being a safe-haven currency in times of financial market volatility.

Forward Rate

The future interest rate agreed upon in a forward contract, determining the cost of borrowing or lending for future transactions.

Spot Rate

The current market price of a commodity, currency, or security that is available for immediate settlement.

Direct Quote

A foreign exchange rate quoted as the domestic currency per unit of the foreign currency.