The objective of the recording function of transactions (in the context of internal accounting control) is to

a.Limit access to assets and to permit preparation of financial statements in accordance with GAAP.

b.Assure compliance with the rules of all regulatory bodies having jurisdiction over the reporting entity.

c.Permit preparation of financial statements in accordance with GAAP and to maintain accountability of assets.

d.Encourage operational efficiency and adherence to prescribed managerial policies.