Which of the following is true of internal control? A. Internal controls are only necessary for...
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Which of the following is true of internal control? A. Internal controls are only necessary for public companies. B. Internal control procedures tend to diminish the importance of operational efficiency. C. One of the major purposes of internal control is to ensure that the assets are safeguarded. D. A company's outside auditor is responsible for the company's internal control system. Which of the following is true of internal control? A. Internal controls are only necessary for public companies. B. Internal control procedures tend to diminish the importance of operational efficiency. C. One of the major purposes of internal control is to ensure that the assets are safeguarded. D. A company's outside auditor is responsible for the company's internal control system.
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ANSWER A Internal controls are only necessary for public companies Internal controls are processes d... View the full answer
Related Book For
Auditing and Assurance services an integrated approach
ISBN: 978-0132575959
14th Edition
Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley
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