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:

Schedule Of Activity

A detailed plan that outlines all the tasks, timings, and responsibilities involved in a project or process to ensure successful completion and management.

Costs

Expenses incurred by a business or individual in the production, maintenance, or purchase of goods and services.

Cost Of Goods Sold

The cost of merchandise sold recognized as an expense; the cost of finished goods available for sale minus the ending finished goods inventory.

Inventory

Inventory consists of the goods and materials a business holds for the purpose of resale or production, including raw materials, work-in-progress, and finished goods.