accounting

posted by .

Three objectives of a company's internal control system should be safeguarding assets, checking the accuracy and reliability of accounting data, and promoting operational efficiency. A fourth objective of a company's internal control system should be:
1.Preventing embezzlement of assets
2.Encouraging adherence to prescribed managerial policies
3.Avoiding the payment of overtime to company employees
4.Revising standards for production costs on a weekly basis

I am thinking it should be 2, but am not certain. Can anyone assist?

  • accounting -

    I agree -- 2 is the best answer.

  • accounting -

    Thank you.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. accounting

    Cash Management Matrix For each principle in the matrix,describe how the principle ensures the reliability of a company's financial statements and provide at least one example of how the principle might work in a real company. Principles …
  2. accounting

    Cash Management Matrix For each principle in the matrix,describe how the principle ensures the reliability of a company's financial statements and provide at least one example of how the principle might work in a real company. Principles …
  3. Business

    Is internal control concerned only with enhancing the accuracy of accounting records?
  4. business

    Listed below are five procedures followed by The Beat Company. Several individuals operate the cash register using the same register drawer. A monthly bank reconciliation is prepared by someone who has no other cash responsibilities. …
  5. acc250

    Please post your response to the following: Chapter 5 discusses internal control. Why are internal controls and audit trails important in a computerized accounting system?
  6. accounting

    Guard Dog Company recently changed its system of internal control over cash disbursements. The system includes the following features. Instead of being unnumbered and manually prepared, all checks must now be prenumbered and written …
  7. Accounting

    Identify internal control principles. (SO 2), C The internal control procedures in Phillips Company make the following provisions. Identify the principles of internal control that are being followed in each case. a. Employees who have …
  8. Brenau University

    To: From: Date: Subject: Observation Methodology: A. Description of internal control: (What did you observe?
  9. AIS

    Regarding COBIT, which of the following statements is true?
  10. accounting

    Starbucks-. Locate the company’s annual report as outlined previously. Find the company’s segment information; it should be in the “Notes to Consolidated Financial Statements” or other similarly named section. Look for the …

More Similar Questions