Accounting Controls Are Designed To

question 22

Multiple Choice

Accounting controls are designed to:

• A) eliminate collusion
• B) evaluate performance for annual merit increases
• C) ensure low employee turnover
• D) safeguard company assets and ensure reliable accounting records

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Definitions:

Proprietor

The owner of a business establishment, a shop, or any other commercial enterprise.

Sole Proprietorship's Profits

The total income a sole proprietorship generates after expenses are deducted, belonging entirely to the business owner.

Deception

The act of misleading or tricking someone into believing something that is not true, often for personal gain.

Franchisor

A business entity that grants another party the right to operate a business using its trademark, products, and business model.