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What is the purpose of internal controls

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Reference no: EM132951669

Problem 1: What is the purpose of internal controls?

Multiple choice question.

Option 1: Companies create internal controls to protect assets and ensure reliable accounting.

Option 2: Companies use strong internal controls to guarantee that loss is eliminated.

Option 3: Internal controls are used by managers as a way to reduce outstanding customer balances.

Option 4: Managers utilize internal controls as a basis of employee performance reviews.

Reference no: EM132951669

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