Which of the Following Is an Objective of Internal Control

question 19

Multiple Choice

Which of the following is an objective of internal control?

• A) to encourage employees to follow company policies
• B) to ensure timely payment of accounts payable
• C) to ensure timely collection of accounts receivable
• D) to guarantee that a business makes a profit

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Definitions:

Gross Margin Ratio

A financial metric that shows the proportion of revenue that exceeds the cost of goods sold, indicating the efficiency of production and sales.