An internal control system is used to do all of the following: (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)

Respuesta :

(A) Protect assets checked and, (C) Ensure reliable accounting checked.

What Are Internal Controls?

Internal controls are the systems, guidelines, and practices that a business uses to guarantee the accuracy of its financial and accounting data, encourage accountability and thwart fraud.

Internal controls can help increase operational efficiency by enhancing the accuracy and timeliness of financial reporting, in addition to ensuring compliance with laws and regulations and preventing employees from embezzling money or committing fraud.

Which of these two types of internal controls are they?

Preventive and investigative efforts make up the bulk of internal controls. Thorough documentation and permission procedures are part of preventive control operations, which try to stop mistakes or fraud from happening in the first place. Detective controls are backup procedures that are intended to find things or events that the first line of protection has missed.

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Correct question:

An internal control system is used to do all of the following: (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)

(A) Protect assets checked

(B) Prevent all losses checked

(C) Ensure reliable accounting checked

(D) Control the entire operation