Exams

Internal control, as defined in accounting and auditing, is a process for assuring achievement of an organization's objectives in operational effectiveness and efficiency, reliable financial reporting, and compliance with laws, regulations and policies. A broad concept, internal control involves everything that controls risks to an organization.

Internal control is all of the policies and procedures management uses to achieve the following goals.

• Safeguard University assets - well designed internal controls protect assets from accidental loss or loss from fraud.

• Ensure the reliability and integrity of financial information - Internal controls ensure that management has accurate, timely and complete information, including accounting records, in order to plan, monitor and report business operations.

• Ensure compliance - Internal controls help to ensure the University is in compliance with the many federal, state and local laws and regulations affecting the operations of our business.

• Promote efficient and effective operations - Internal controls provide an environment in which managers and staff can maximize the efficiency and effectiveness of their operations.

• Accomplishment of goals and objectives - Internal controls system provide a mechanism for management to monitor the achievement of operational goals and objectives.

Hence, Internal controls are concerned with safeguarding assets.

Belgium has become the first country to open an honorary consulate office in Gujarat International Finance Tec-City (GIFT City).

Systems biology is mainly an attempt to understand the behavior of entire biological systems by studying interactions among its component parts.

In keeping with Prime Minister Narendra Modi's vision of a 'New India', Google India and the Ministry of Electronics and Information Technology (MEITY) announced a set of initiatives aimed at empowering citizens and creating abundant oppurtunities for all.

From the given Statements : 

 1. I > W > T > N
 
 2. F = G = C
 

Conclusions are : 

 I. W > I (False)

 II. C > N (True)

8(6+5) - 10 = ?

? = 8(11) - 10

? = 88 - 10

? = 78.