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JulsSmile [24]
3 years ago
5

The objectives of internal control are to a.prevent fraud and promote the social interest of the company b.provide control over

"internal-use only" reports and employee internal conduct c.control the internal organization of the Accounting Department personnel and equipment d.provide reasonable assurance that assets are safeguarded and used for business purposes, financial reports are accurate, and laws and regulations are complied with
Business
1 answer:
Marina86 [1]3 years ago
4 0

Answer:

d.provide reasonable assurance that assets are safeguarded and used for business purposes, financial reports are accurate, and laws and regulations are complied with.

Explanation:

The purpose of internal controls is to provide reasonable assurance that assets are safeguarded and used for business purposes, financial reports are accurate, and laws and regulations are complied with.

By definition: An internal control is a procedure or policy put in place by management <u>to safeguard assets, promote accountability, increase efficiency, and stop fraudulent behavior.</u>

Summarily, internal controls are put in place as a process to prevent employees from stealing assets or committing fraud.

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Explain any experience you have with blogs, wikis, discussion boards, online communities
zavuch27 [327]

Answer:

Blogs, wikis, and discussion boards are web-based platforms through which students can create and share content as well as interact with each other and the instructor.

Explanation:

6 0
3 years ago
Examining relationships among data in the company's financial statements can provide knowledge that can not be gained from just
Yuki888 [10]

Options: True or False

Answer: True

Explanation: Financial statements is a written record of the inflow and outflow of funds in an organisation, it gives a description and clearer picture or view of how the financial activities taking place in the Organisation has been managed,it helps the decision makers to see the true picture and state of affairs of the Organisation.

EXAMINING FINANCIAL STATEMENTS HELPS TO REVEAL MORE DETAILED INFORMATION THAT CAN NOT BE OBTAINED BY JUST LOOKING AT INDIVIDUAL ITEMS IN A STATEMENT.

8 0
3 years ago
A country redesigned its tax policy so that the tax rate was reduced for individuals earning larger amounts of money. For exampl
storchak [24]

Answer: B. regressive taxation

Explanation:

Regressive taxation is a form of taxation where people who earn higher income pay a less percentage of income as tax while those who earn less income pay a higher percentage of income as tax.

Progressive taxation is a form of taxation where people who earn higher income pay a higher percentage of income as tax and those who earn less income pay a lower percentage of income as tax.

6 0
3 years ago
Read 2 more answers
Which factors decrease because of protectionism? competition job security domestic production goodwill with trade partners impor
sveticcg [70]
Protectionism<span> is the economic policy of restraining trade between states through certain methods. From the choices listed above, I think the correct answer is the third option. The factor that would </span>decrease because of protectionism is <span>goodwill with trade partners.</span>
6 0
3 years ago
A customer has total assets of $436,000 and total liabilities of $314,000. The customer has just signed a contract to buy a new
natta225 [31]

Answer:

$122,000

Explanation:

Net worth refers to total assets minus total liabilities.

Therefore, the net worth of this customer can be calculated as follows:

Assets = Existing assets + A new car - Withdraw from existing checking account = $436,000 + $35,000 - $5,000 = $466,000

Liabilities = Existing liabilities + Borrowing from auto fiance company =  $314,000 + $30,000 = $344,000

Net worth = Assets - Liabilities = $466,000 - $344,000 = $122,000.

8 0
3 years ago
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