Question:
To safeguard assets and optimise the use of resources of a business :
To safeguard assets and optimise the use of resources of a business :
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Internal checks and controls are essential for both asset protection and operational efficiency.
Updated On: Jul 4, 2025
- shield and secure its assets only.
- try to earn sufficient profits only.
- keep internal checks and controls.
- ensure accuracy in accounting records only.
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The Correct Option is C
Solution and Explanation
The purpose of maintaining internal checks and controls is to prevent fraud, theft, and errors. It ensures that assets are safeguarded and resources are utilized efficiently through systematic procedures, authorizations, and verifications.
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