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The objectives of internal control are to a. prevent fraud and promote the social interest of the company Ob. provide reasonable assurance that assets are safeguarded and used for business purposes, financial reports are accurate, and laws and regulations are complied with c. control the internal organization of the Accounting Department personnel and equipment d. provide control over "internal-use only" reports and employee internal conduct

The objectives of internal control are to a. prevent fraud and promote the social interest of the company Ob. provide reasonable assurance that assets are safeguarded and used for business purposes, financial reports are accurate, and laws and regulations are complied with c. control the internal organization of the Accounting Department personnel and equipment d. provide control over "internal-use only" reports and employee internal conduct

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The objectives of internal control are to a. prevent fraud and promote the social interest of the company Ob. provide reasonable assurance that assets are safeguarded and used for business purposes, financial reports are accurate, and laws and regulations are complied with c. control the internal organization of the Accounting Department personnel and equipment d. provide control over "internal-use only" reports and employee internal conduct
Transcribed Image Text:The objectives of internal control are to a. prevent fraud and promote the social interest of the company Ob. provide reasonable assurance that assets are safeguarded and used for business purposes, financial reports are accurate, and laws and regulations are complied with c. control the internal organization of the Accounting Department personnel and equipment d. provide control over "internal-use only" reports and employee internal conduct
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