Internal Controls Are Designed to Accomplish Five Objectives That Include

question 104

Multiple Choice

Internal controls are designed to accomplish five objectives that include compliance with legal requirements,promote operational efficiency,safeguard assets,encourage employees to follow company policy and:

• A)prevent misappropriation of assets.
• B)prevent collusion.
• C)prevent fraud.
• D)ensure accurate,reliable accounting records.

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Definitions:

Low Wages

Low wages refer to compensation that is significantly lower than the average for comparable work in a specific region, industry, or within a particular occupation.