Question:
To safeguard assets and optimize the use of resources a business .......
To safeguard assets and optimize the use of resources a business .......
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Internal controls help ensure the security of assets and the efficiency of business operations.
Updated On: Feb 4, 2025
- Only tries to earn sufficient revenue
- Only ensures accuracy in accounting records
- Keeps internal controls
- Only protects its assets
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The Correct Option is C
Solution and Explanation
A business must maintain internal controls to safeguard its assets, optimize resources, and prevent fraud or errors. Internal controls are essential for efficient operations and protection of assets.
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% [Balance Sheet Extract & Notes shown in Question] Notes to accounts' as at 31st March, 2023 \& 2024 show changes in Share Capital.
Analysis from Notes:
As at 31-3-2023: Issued \& Subscribed Capital: 5,00,000 equity shares of Rs 10 each, fully paid up = Rs 50,00,000.
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