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.

---

Definitions:

Assignments

Tasks or projects given to individuals or groups to complete within a certain timeframe.

Leader Task Expertise

The knowledge, skills, and abilities a leader possesses that are directly relevant to the tasks they oversee, contributing to effective leadership and organizational success.

Coaching

A developmental process where an experienced individual provides support and guidance to foster another's growth and performance.

Services

Activities or benefits offered by a business or organization to satisfy customers' needs, distinct from providing physical goods.