The Two Main Objectivof Internal Controls Are

question 77

Multiple Choice

The two main objectivof internal controls are:

• A) to support the automated parts of the business in the functioning of the controls in place.
• B) to prevent or detect misstatements in the financial statements.
• C) both a and b.
• D) none of the above.

---

Definitions:

Per Annum

A Latin term meaning "per year," often used in financial contexts to describe rates or amounts calculated over a yearly basis.

Invested

Invested refers to the allocation of resources, usually money, into a financial venture with the expectation of receiving future returns.

Per Annum

Annually; indicating the occurrence, rate, or amount in a year.

Maturity Value

The amount payable to an investor at the end of a fixed-term investment including principal and interest.