A key modifying assumption in internal control is that the internal control system is the responsibility of management.

a) true

b) false

Question

Jose Shepherd

Business

26 December, 07:54

A key modifying assumption in internal control is that the internal control system is the responsibility of management.

a) true

b) false

+5

Answers (1)

Know the Answer?

Pablo Burns · Answer 1

a) true

Explanation:

Internal control system is the whole system of control financial and otherwise established by management in order to carry on the business of the enterprise in an efficient and orderly manner and to secure the integrity of the records and books of accounts.

The internal control is a management control tools used to ensure efficiency in operations.

A key modifying assumption in internal control is that the internal control system is the responsibility of management.a) trueb) false

A key modifying assumption in internal control is that the internal control system is the responsibility of management.

a) true

b) false