s1: An adequate internal control ensures the substantial accuracy of various managerial reports, financial and statistical in nature. s2: A system of internal control extends beyond those matters which relate directly to the functions of the accounting and financial departments. s3: Safeguarding the assets of the company Is the primary objective of internal control.
s1: An adequate internal control ensures the substantial accuracy of various managerial reports, financial and statistical in nature. s2: A system of internal control extends beyond those matters which relate directly to the functions of the accounting and financial departments. s3: Safeguarding the assets of the company Is the primary objective of internal control.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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s1: An adequate internal control ensures the substantial accuracy of various managerial reports, financial and statistical in nature. s2: A system of internal control extends beyond those matters which relate directly to the functions of the accounting and financial departments. s3: Safeguarding the assets of the company Is the primary objective of internal control.
A. all statements are true
B. all statements are false
C. S1 and S2 are true
D. S1 and S3 are true
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