Which one of the following is not an objective of a system of internal controls?
a. Safeguard company assets
b. Overstate liabilities in order to be conservative
c. Enhance the accuracy and reliability of accounting records
d. Reduce the risks of errors
Ans: b. Overstate liabilities in order to be conservative
Business
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The only function that brings operating revenues into the organization is ____________
a. marketing b. management c. finance d. accounting e. information technology
Business
In the financial markets, individuals are net demanders of funds
Indicate whether the statement is true or false.
Business