HomeTestsSearchRankProfile
easyMCQCUET Accountancy 2022 30 Aug Shift 22026Accountancy
1 mark

What are the internal controls designed to do ?

  1. A
    Only ensure accurate accounting records
  2. B
    Safeguard assets and optimize use of resource
  3. C
    Only safeguard assets
  4. D
    Only achieve maximum revenue

Solution & Step-by-step Explanation

Internal controls are processes designed to provide reasonable assurance regarding the achievement of objectives in safeguarding assets, ensuring reliable financial reporting, and optimizing the use of resources.

Practice this question

Try it yourself before checking the explanation above.

What are the internal controls designed to do ?
A
Only ensure accurate accounting records
B
Safeguard assets and optimize use of resource
C
Only safeguard assets
D
Only achieve maximum revenue

Share This Question

Computerised AccountingOverview

Related Questions

easyMCQ

Which one of the following statements is true?

easyMCQ

Which of the following statements is not correct?

easyMCQ

Which one of the following statements is correct?

easyMCQ

The product formed by the reaction of an aldehyde with a primary amine is:

easyMCQ

Which part of the tobacco plant is infected by Meloidogyne incognita?

easyMCQ

The term ecosystem was coined by:

Ready for a Full Test?

Practice with timed mock tests and track your performance across Accountancy.

Browse TestsLeaderboard

Discussion