Role of Internal Control}

Internal control systems include policies and procedures designed to provide reasonable assurance that the corporation's objectives are being met in three areas:

(a) effectiveness and efficiency of operations,

(b) reliability of financial reporting, and

(c) compliance with applicable laws and regulations. Like any other business, a grocery store uses internal control activities to meet its objectives in these three areas.

\section*{Required:}

Name an internal control for each area of a grocery store's operations and describe how the internal control helps accomplish the store's objectives in these areas.

\section*{OBJECTIVE (2) 3 Problem