Discussion
_______________ consists of all the methods and procedures adopted to assist in achieving the objective of efficient conduct of business
Answer: D
The answer is internal control. Internal control consists of all the methods and procedures adopted by management to assist in achieving the objective of efficient and orderly conduct of business, including adherence to policies, safeguarding of assets, prevention of fraud and error, and the completeness of the accounting records. Internal check is only one part of it, concerned with the allocation of duties, and internal audit is a separate review function. An internal report is not a system of controls.
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