Question: The internal control procedures in Naperville Company provide that: 1. Employees who have physical custody of assets do not have access to the accounting records.
The internal control procedures in Naperville Company provide that:
1. Employees who have physical custody of assets do not have access to the accounting records.
2. Each month, the assets on hand are compared to the accounting records by an internal auditor.
3. A prenumbered shipping document is prepared for each shipment of goods to customers.
Identify the principles of internal control that are being followed.
1. Employees who have physical custody of assets do not have access to the accounting records.
2. Each month, the assets on hand are compared to the accounting records by an internal auditor.
3. A prenumbered shipping document is prepared for each shipment of goods to customers.
Identify the principles of internal control that are being followed.
Step by Step Solution
★★★★★
3.41 Rating (160 Votes )
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Internal controls are the procedures followed by the management an... View full answer
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
Document Format (1 attachment)
221-B-C-A-I-C-C (983).docx
120 KBs Word File