Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. what is the purpose of controls, when it comes to

What is the purpose of controls, when it comes to business financial information? Controls safeguard...

50.1K

Verified Solution

Question

Accounting

What is the purpose of controls, when it comes to business financial information?
Controls safeguard a business's records, and ensure accounting information is accurate.
Cash should always be controlled in a secure location, such as a lockbox.
A business uses controls to control a third party hired to do the bookkeeping.
A good information system with controls will ensure the success of a business.
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Convert 10.33 Centimeters to Nanometers

Algebra
Q

Short response: Most astronomical telescopes make use of spherical mirrors for their objectives. What are some advantages for using...

Physics
Q

Which of the seven memory errors presented by Schacter have you committed? Provide an example of...

Psychology
Q

The answer and solutions are not given. Solve everything from a through f.   An automobile takes 9.89...

Physics
Q

DO YOU AGREE OR DISAGREE AND WHY? OTs should evaluate clients by using a functional and meaningful...

Psychology
Q

for y(t) function ty'' - ty' + ty = 0, y(0)= 0 , y'(0)= 1 solve...

Advance Math
Q

When two cells of emf E and E are connected in series the null point...

Physics
Q

Identify the error in the student solution shown below. Find the correct answer.2ln(x) = In(3x)...

Basic Math
Q

tephanie Vega Martinez Attempt 1 identify the inequality that represents the grapn 54 3 2...

Algebra
Q

For federal tax purposes, how are start-up costs treated for a business? Capitalized or expensed?...

Accounting
Q

The Lioness Company had the following functional income statement for the month of...

Accounting
Q

Lukawitz Industries leased non-specialized equipment to Seminole Corporation for a four-year period, at which time...

Accounting