Internal Control: The internal control refers to the plan of a company. Implementation of effective internal control system is necessary for success of any business enterprise. Thus, internal control helps: To promote the operational efficiency. To encourage company policies and procedures regarding adherence. To minimize the errors and theft happening in the company. To enhance the accuracy and reliability of the accounting data. To Explain: The frauds are more likely to occur when it is being committed by top-level employees.

Question

Want to see the full answer?

Answer 1

Question

Chapter 4, Problem 13RQ

To determine

Internal Control: The internal control refers to the plan of a company. Implementation of effective internal control system is necessary for success of any business enterprise.

Thus, internal control helps:

To promote the operational efficiency.

To encourage company policies and procedures regarding adherence.

To minimize the errors and theft happening in the company.

To enhance the accuracy and reliability of the accounting data.

To Explain: The frauds are more likely to occur when it is being committed by top-level employees.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

What is the correct option? General accounting question

A B correct answer

can you please solve this answer

Answer 2

Question

Chapter 4, Problem 13RQ

To determine

Internal Control: The internal control refers to the plan of a company. Implementation of effective internal control system is necessary for success of any business enterprise.

Thus, internal control helps:

To promote the operational efficiency.

To encourage company policies and procedures regarding adherence.

To minimize the errors and theft happening in the company.

To enhance the accuracy and reliability of the accounting data.

To Explain: The frauds are more likely to occur when it is being committed by top-level employees.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 4, Problem 13RQ

To determine

Internal Control: The internal control refers to the plan of a company. Implementation of effective internal control system is necessary for success of any business enterprise.

Thus, internal control helps:

To promote the operational efficiency.

To encourage company policies and procedures regarding adherence.

To minimize the errors and theft happening in the company.

To enhance the accuracy and reliability of the accounting data.

To Explain: The frauds are more likely to occur when it is being committed by top-level employees.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 4, Problem 13RQ

To determine

Internal Control: The internal control refers to the plan of a company. Implementation of effective internal control system is necessary for success of any business enterprise.

Thus, internal control helps:

To promote the operational efficiency.

To encourage company policies and procedures regarding adherence.

To minimize the errors and theft happening in the company.

To enhance the accuracy and reliability of the accounting data.

To Explain: The frauds are more likely to occur when it is being committed by top-level employees.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 4, Problem 13RQ

To determine

Internal Control: The internal control refers to the plan of a company. Implementation of effective internal control system is necessary for success of any business enterprise.

Thus, internal control helps:

To promote the operational efficiency.

To encourage company policies and procedures regarding adherence.

To minimize the errors and theft happening in the company.

To enhance the accuracy and reliability of the accounting data.

To Explain: The frauds are more likely to occur when it is being committed by top-level employees.

Answer 6

Chapter 4, Problem 13RQ

To determine

Internal Control: The internal control refers to the plan of a company. Implementation of effective internal control system is necessary for success of any business enterprise.

Thus, internal control helps:

To promote the operational efficiency.

To encourage company policies and procedures regarding adherence.

To minimize the errors and theft happening in the company.

To enhance the accuracy and reliability of the accounting data.

To Explain: The frauds are more likely to occur when it is being committed by top-level employees.

Answer 7

Chapter 4, Problem 13RQ

To determine

Internal Control: The internal control refers to the plan of a company. Implementation of effective internal control system is necessary for success of any business enterprise.

Thus, internal control helps:

To promote the operational efficiency.

To encourage company policies and procedures regarding adherence.

To minimize the errors and theft happening in the company.

To enhance the accuracy and reliability of the accounting data.

To Explain: The frauds are more likely to occur when it is being committed by top-level employees.

Answer 8

Expert Solution & Answer

Answer 9

Expert Solution & Answer

Answer 10

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 11

Ch. 4 - Prob. 1RQ Ch. 4 - Prob. 2RQ Ch. 4 - Prob. 3RQ Ch. 4 - Prob. 4RQ Ch. 4 - What is meant by the fraud triangle, and what can...Ch. 4 - Prob. 6RQ Ch. 4 - Prob. 7RQ Ch. 4 - Prob. 8RQ Ch. 4 - What is meant by separation of duties?Ch. 4 - Prob. 10RQ

Solution Summary: The author explains that effective internal control system is necessary for success of any business enterprise. Top-level employees are responsible for internal controls, but frauds are more likely to occur when they act unethically.

Concept explainers

Want to see the full answer?

Chapter 4 Solutions