Principles of Internal Control Include

question 55

Multiple Choice

Principles of internal control include:

• A) Record purchases using the gross method.
• B) Divide responsibilities for related transactions.
• C) Perform regular and independent reviews.
• D) Divide responsibilities for related transactions and perform regular and independent reviews.
• E) All of the above

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Definitions:

Hypothesis

An assumption or proposition made as a basis for reasoning or research, without any assumption of its truth.

Explanation

A statement about why or how something is the case.

Reliable

Describes something or someone that consistently performs well or can be trusted to be accurate.

Inconsistent

Lacking compatibility or uniformity; actions, beliefs, or statements that do not align or are contradictory.