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:

Martin Seligman

A psychologist renowned for his work in the fields of positive psychology and learned helplessness.

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Assistance and comfort received from friends, family, and others, contributing to an individual's well-being.

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Frameworks or ways of viewing phenomena, typically used in academic disciplines to guide research and understand complex issues.