Which of the following is not part of the definition of internal control? a. Separation of duties b. Safeguard assets c. Encourage employees to follow company policies d. Promote operational efficiency

Which of these is the system of incentives and monitors that tries to overcome the agency problem?   Multiple Choice   Security Exchange Commission   Checks and Balances   Board of Directors   Corporate Governance

Which is correct ?

What is the primary role of internal controls in managing a business? a.To ensure that the financial statements are presented in such a manner as to provide relevant and reliable information for financial statement decision makers and the company's creditors. b.To constrain subordinates' activities in order to prevent employees from deviating from the scope of their responsibilities and encourage them to act in the best interest of the business. c.To encourage theft and to ensure that segregation of duties does not take place. d.To prevent cash from being stolen.

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