Accounting · Auditing
What is the primary purpose of establishing internal controls in an organization?
- 1To only achieve the maximum possible revenue in a short duration.
- 2To safeguard assets and ensure the efficient and optimal use of available resources.✓
- 3To completely eliminate the requirement of external auditing.
- 4To replace the management hierarchy with an automated system.
Correct answer
To safeguard assets and ensure the efficient and optimal use of available resources.
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Preparing for Accounting?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Want more practice questions on Auditing?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Accounting · Auditing