Examlex

Solved

A Person Who Controls or Has Access to an Asset

question 65

Essay

A person who controls or has access to an asset must not keep that asset's accounting records. This describes the internal control principle of _______________________.


Definitions:

Firm

Having a solid, unyielding surface or structure, often used to describe physical objects or business establishments with strong foundations.

Principles

Fundamental beliefs or guidelines that drive decision-making and actions within various disciplines or aspects of life.

Standing

The position or status of being upright on the feet to support the weight of the body.

Busy Reception

A scenario where the reception area of a business or office is experiencing high levels of activity and visitor volume.

Related Questions