Acc280 Financial Accounting: BE8-1 Jim Gaffigan has prepared the following list of statements

Acc280 Financial Accounting
BE8-1
Jim Gaffigan has prepared the following list of statements about internal control.

Instructions
Identify each statement as true or false.
1. One of the objectives of internal control is to safeguard assets from employee theft, robbery, and unauthorized use.
2. One of the objectives of internal control is to enhance the accuracy and reliability of the accounting records.
3. No laws require U.S. corporations to maintain an adequate system of internal control.
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