Internal Controls Are Designed to Accomplish Five Objectives-Comply with Legal

question 45

Multiple Choice

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

• A) prevent embezzlement.
• B) prevent collusion.
• C) ensure accurate, reliable external audits.
• D) ensure accurate, reliable accounting records.

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Definitions:

Obsessive-Compulsive Disorder

A mental disorder characterized by recurrent, unwanted thoughts (obsessions) and/or repetitive behaviors (compulsions) that one feels compelled to perform.

Arranging And Rearranging

A cognitive process involving organizing or reorganizing information or objects to solve problems or create new perspectives.

Anxiety And Anxiety-Related Disorders

These are mental health conditions characterized by significant fear, nervousness, and worry, often accompanied by physical symptoms like heart palpitations and sweating.

Obsessive-Compulsive Disorder

A mental health disorder characterized by persistent unwanted thoughts (obsessions) and repetitive behaviors (compulsions).