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Patricia Celine
on Oct 15, 2024

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The principles of internal control include:

A) Separate recordkeeping from custody of assets.
B) Maintain minimal records.
C) Use only computerized systems.
D) Bond all employees.
E) Require automated sales systems.

Recordkeeping

The systematic process of maintaining records for financial transactions and other business activities.

Custody of Assets

Responsibility for safeguarding and managing physical or digital assets, ensuring their security and proper use.

Automated Sales Systems

Technology-driven systems designed to streamline the sales process, often involving automated customer interactions, order processing, and data analysis.

  • Recognize the principles of internal control and how they safeguard company assets.
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KD
Kenneth DavisOct 16, 2024
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