Internal Control Is a Company's Plan to (1)improve the Accuracy

question 68

True/False

Internal control is a company's plan to (1)improve the accuracy and reliability of accounting information and (2)safeguard the company's assets.

---

Definitions:

Cognitive Dissonance

A psychological discomfort experienced when holding two or more conflicting beliefs, ideas, or values at the same time.

Rational Commitment

A decision-making approach where choices are made based on logical evaluation and reason rather than emotion or social pressure.

Financial

Pertaining to money, investments, banking, or management of assets and liabilities.

Developmental

Pertaining to the process of growth and change over time, often focusing on emotional, physical, psychological, or intellectual expansion.