Question

s what is Internal check and its objectives
to explain ?​

Answer 1

Explanation:

Objectives Of Internal Check

To protect business from carelessness, inefficiency and fraud. To ensure and produce adequate and reliable accounting information. To keep moral pressure over staff. To minimize the chances of errors and frauds and to detect them easily on early stage if it is committed.

Answer 2

Explanation:

an accounting procedure whereby routine entries for transactions are handled by more than one employee in such a manner that the work of one employee is automatically checked against the work of another for detection of errors and irregularities.

Objectives of Internal Check:

• There are several objectives of the internal check. They are given below:

• To minimize the possibility of error, fraud, and irregularity.
• To prevent the misappropriation of cash and goods.
• To allocate duties and responsibilities to every clerk in the organization.
• To ensure an accurate recording of all business transactions.
• To enhance the efficiency of the clerk in the organization.
• To exercise moral influence over the staff member.
• To prepare a final account with ease and efficiency.