Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Internal control is defined as: the entity's system to ensure that management and those charged with governance of the entity have quality information for decision

Internal control is defined as:\ the entity's system to ensure that management and those charged with governance of the entity have quality information for decision making.\ a process, implemented by management, to ensure the integrity of the entity's management information system.\ the entity's system to prevent, or detect and correct, misstatements in the financial statements.\ a process, effected by an entity's board of directors, management, and other personnel, designed to provide reasonable assurance regarding the achievement of the objectives related to operations, reporting, and compliance.

image text in transcribed

Internal control is defined as: O the entity's system to ensure that management and those charged with governance of the entity have quality information for decision making. O a process, implemented by management, to ensure the integrity of the entity's management information system. O the entity's system to prevent, or detect and correct, misstatements in the financial statements. O a process, effected by an entity's board of directors, management, and other personnel, designed to provide reasonable assurance regarding the achievement of the objectives related to operations, reporting, and compliance.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting

Authors: Carl s. warren, James m. reeve, Philip e. fess

21st Edition

978-0324400205, 324225016, 324188005, 324400209, 9780324225013, 978-0324188004

More Books

Students also viewed these Accounting questions

Question

Define self-discipline. (p. 210)

Answered: 1 week ago