Three objectives of a company's internal control system - 10062

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Three objectives of a company's internal control system should be safeguarding assets, checking the accuracy and reliability of accounting data, and promoting operational efficiency.  A fourth objective of a company's internal control system should be:

a.Preventing embezzlement of assets

b.Encouraging adherence to prescribed managerial policies

c.Avoiding the payment of overtime to company employees

d.Revising standards for production costs on a weekly basis

 

Solution Description

Three objectives of a company's internal control system should be safeguarding assets, checking the accuracy