Author Question: The objectives of internal control are to a. control the internal organization of the accounting ... (Read 144 times)

Brittanyd9008 · **on:** Jul 5, 2018

The objectives of internal control are to
a. control the internal organization of the accounting department personnel and equipment
b. provide reasonable assurance that assets are safeguarded and used for business purposes, financial reportsare accurate, and laws and regulations are complied with
c. prevent fraud, and promote the social interest of the company
d. provide control over internal-use only reports and employee internal conduct

Question 2

The purchase of treasury stock ________ a corporation's assets and ________ its shareholders' equity.

A) increases; increases
B) decreases; increases
C) increases; decreases
D) decreases; decreases