Which of the following is not one of the pofccies and procedures that make up an

Question

Which of the following is not one of the pofccies and procedures that make up an internal control system? Protect assets. Ensure reliablo accounting Guarantee a return to invostors. Urgo adherence to company pofccies. Promote efficient operations. A company's Internal control system Eliminates the company's risk of loss. Monitors company and employee performance. Eliminates human error. Eliminates the need for audits. Eliminates the need for managers' certification of controls. Managers place a high prtrty on interna. centre, systems because the systems assist manage in ail of the following except Promoting efficient operations. Protecting assets Urging adherence to company policies. Ensuring reliable accounting Assuring that no loss wa occur. The principles of internal control include: A Separate recordkeeping from custody of assets. Maintain minimal records. Use only computerized systems. Bond all employees. Require automated sales systems.

Explanation / Answer

SOLUTION :

*which of following is not one of the policies and procedures that make up an internal control system?

C. Gurantee a return to investors as ICS has nothing to do with return to investors

*A COMPANY ICS :

B. MONITORS COMPANY AND EMPLOYEE PERFORMANCE.

*MANAGER PLACE A HIGH PRIORITY ON ICS BECAUSE THE SYSTEMS ASSIST MANAGERS IN ALL OF   

   THE FOLLOWING EXCEPT :

   E. ASSURING THAT NO LOSS WILL OCCUR.

*THE PRINCIPAL OF INTERNAL CONTROL INCLUDE :

D. BOND ALL EMPLOYEE.

*which of following is not one of the policies and procedures that make up an internal control system?

C. Gurantee a return to investors as ICS has nothing to do with return to investors

*A COMPANY ICS :

B. MONITORS COMPANY AND EMPLOYEE PERFORMANCE.

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