Asked by
Patricia Celine
on Oct 15, 2024Verified
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.
Verified Answer
KD
Learning Objectives
- Recognize the principles of internal control and how they safeguard company assets.