Question

Internal controls are concerned with
A) the extent of government regulations
B) preparing income tax returns
C) safeguarding assets
D) only manual systems of accounting

Answer 1

Internal controls are concerned with
A) the extent of government regulations
B) preparing income tax returns✅✅✅
C) safeguarding assets
D) only manual systems of accounting

Answer 2

The correct answer for your question is option (C)

Internal concerns are concerned with safeguarding assets.

Internal controls are for protecting a business’s management data and financial data which are the most important assets of that business. The internal control procedure closely work with law and regulation of a government and the regulations of the management.