A Good System of Internal Control Is Designed to Achieve

question 132

Multiple Choice

A good system of internal control is designed to achieve all of the following except

• A)efficiency of operations.
• B)reliability of financial reporting.
• C)compliance with relevant laws and regulations.
• D)attainment of target sales.

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Definitions:

Six-figure Accuracy

A term indicating a numerical value or calculation is precise up to six digits.

Simplify

To reduce complexity or make easier to comprehend, particularly by breaking down into fundamental elements.

Like Terms

Terms in algebraic expressions that have the same variables raised to the same power, only their coefficients are different.

Discount Formula

A mathematical formula used to determine the present value of a future amount or a series of future cash flows, factoring in a discount rate.