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Which of the following best describes the primary objective of a system of internal control in a large organization?

Q: Answer-Which of the following best describes the primary objective of a system of internal control in a lar...

Internal controls provide reasonable assurance regarding operational efficiency, safeguarding assets, and accuracy of records. Fraud prevention is a benefit but not the sole objective.

A To eliminate all possible frauds and errors

B To ensure reliability of financial reporting, safeguard assets, and promote operational efficiency

C To detect fraud immediately after it occurs

D To ensure compliance with tax laws only

E To minimize audit procedures entirely

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Which of the following best describes the primary objective of a system of internal control in a large organization?

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Which of the following best describes the primary objective of a system of internal control in a large organization?

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