The Objectives of Internal Control Do NOT Include

question 156

Multiple Choice

The objectives of internal control do NOT include:

• A)compliance with standards of social responsibility.
• B)safeguard assets.
• C)promoting operational efficiency.
• D)compliance with legal requirements.

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Definitions:

Trustee

A person or firm that holds and administers property or assets for the benefit of a third party.

Creditor

An individual or institution to whom money is owed.

Special Warranty Deed

A Special Warranty Deed is a type of deed in which the seller guarantees they have not impaired the title but only during their ownership.

General Warranty Deed

A type of deed in real estate that provides the highest level of protection for the buyer, where the seller guarantees they hold clear title to the property and have the right to sell it.