The Principles of Internal Control Include: Ensure Transactions and Activities

question 103

True/False

The principles of internal control include: ensure transactions and activities are authorized, maintain records, insure assets, separate recordkeeping and custody of assets, and perform internal and external audits.

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Definitions:

Official Relief Programs

Government-sponsored initiatives designed to provide financial assistance and support to individuals and communities in need.

Kellogg-Briand Pact

An international agreement signed in 1928, in which signatory states pledged to renounce war as a means of national policy and settle disputes by peaceful means.

Renounced War

The formal act of declaring the rejection or abandonment of the use of war as a means to resolve disputes or achieve objectives.

National Policy

A set of decisions and actions taken by a government concerning internal and external affairs to guide the nation's goals and achieve desired outcomes.