Question

1. Which of categories are Internal controls are grouped?
A. Effective operations, financial reporting, and compliance.
B. Efficient operations, financial analysis, and compliance.
C. Efficient operations, financial analysis, and management reporting.
D. Production and operations, financial reporting, and management reporting​

Answer 1

Answer: A. Effective operations, financial reporting, and compliance.

Explanation:

Internal controls are meant to promote the effectiveness of operations in a company so as to bring about maximum profitability.

Internal controls also fall under financial reporting because they are sometimes done to ensure that the information presented by a company is accurate and complete.

There are compliance controls as well to ensure that the company is complying with the various regulations that apply to them be it federal, state, local or private.