answers the question.

Managers place a high priority on internal control systems because the systems assist managers in the

A$)$ Prevention of avoidable losses

B$)$ Planning of operation

C$)$ Monitoring of company performance

D$)$ Monitoring of employee performance

E$)$ All of the choices are correct.

Internal control procedures:

A$)$ Eliminate the risk of loss.

B$)$ Include policies and procedures to safeguard assets.

C$)$ Prevent unavoidable losses.

D$)$ Both eliminate the risk of loss and include policies and procedures to safeguard assets.

E$)$ All of the choices are correct.

Two clerks sharing the same cash register is a violation of which internal control principle?

A$)$ Establish responsibilities

B$)$ Maintain adequate records

C$)$ Insure assets

D$)$ Bond key employees

E$)$ Apply technological controls

Policies and procedures used to promote efficient company operations are known as

A$)$ Asset controls

B$)$ Internal controls

C$)$ Management controls

D$)$ Cash controls

E$)$ Inventory control