Question: Internal control principles common to all companies include: ( A ) Maintain adequate records ( B ) Apply technological controls ( C ) Insure assets

Internal control principles common to all companies include:
(A) Maintain adequate records
(B)Apply technological controls
(C) Insure assets and bond key employees
(D) All the above

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Q:

Two clerks sharing the same cash register is a violation of which internal control principle? Multiple Choice Maintain adequate records. Apply technological controls. Insure assets. Bond key...

Q:

Two clerks sharing the same cash register is a violation of which internal control principle? Multiple Choice Insure assets. Maintain adequate records. Apply technological controls. Establish...

Q:

Two clerks sharing the same cash register is a violation of which internal control principle? Multiple Choice Establish responsibilities. Apply technological controls. Insure assets. Bond key...

Q:

Question 1 2 pts Preparing a bank reconciliation on a monthly basis is an example of: O A technological control. O Establishing responsibility. O Separation of duties. O Protecting assets by proving...

Q:

1 9 Two clerks sharing the same cash register is a violation of which internal control principle? Multiple Choice 0 1 : 3 0 : 4 3 Establish responsibilities Maintain adequate records Apply...

Q:

6-1A Analyzing internal control LO C1 Following are five separate cases involving internal control issues. Required: 1. For each case, identify the principle(s) of internal control that is violated....

Q:

Identify the internal control principle that was violated in each of the following separate situations. Situations Principle Violated There is $500 in cash missing from a cash register drawer. Three...

Q:

accounting 15 - Which of the following is not one of the principles of internal control. la) b) Separate record keeping from custody of assets Maintain adequate records Apply technological controls...

Q:

1 2 3 If a company has an effective internal controls system: Multiple Choice ) It is not necessary to bond key employees. All human errors will be eliminated. The company is exempt from the...

Q:

Following are five separate cases involving internal control issues Required: 1. For each case, identify the principle(s) of internal control that is violated. Carla Farah's manager has told her to...

Q:

Calculate the basic and diluted EPS share price shares outstanding 17 750,000 Net income 17,985,432 Basic EPS= strike price Current price no. options Exercised 15 17 9,400 YES 18 17 2,900 NO 14 17...

Q:

Martinez pic incurs the following expenditures in purchasing a truck: cash price E28,580, accident insurance 4,490, sales taxes E4,140, motor vehicle license E107, and painting and lettering 690....

Q:

Give me an exGo to the Sales Rep Performance worksheet to complete steps 2 through 1 4 . 2 . Insert a column before column C . 3 . In cell C 3 , enter the text Full Name. 4 . In cell C 4 , write a...

Q:

Can you elucidate the role of molecular chaperones and protein quality control systems in maintaining the integrity and homeostasis of the cytoplasm, particularly under conditions of cellular stress...