Asked by Briana Robinson on Jun 06, 2024
Verified
Internal control consists of the related methods and measures adopted to ____________ its assets and enhance the ______________ and ______________ of its accounting records.
Accounting Records
Documents and books that keep track of all financial transactions of a business or individual.
Internal Control
Procedures and processes implemented by a company to safeguard its assets, ensure financial reporting accuracy, and promote operational efficiency.
Assets
Economic resources controlled or owned by a person or company, expected to provide future benefits.
- Apprehend the foundation and importance of internal control systems across various organizations.
- Enumerate the practices and approaches designed for the security of business assets.
Verified Answer
JI
Learning Objectives
- Apprehend the foundation and importance of internal control systems across various organizations.
- Enumerate the practices and approaches designed for the security of business assets.