Which of the Following Is NOT a Principle of Internal

question 113

Multiple Choice

Which of the following is NOT a principle of internal control?

• A) Responsibilities should be clearly established
• B) Adequate records should be maintained
• C) Responsibility for related transactions should be divided
• D) Assets should be insured and employees bonded
• E) Audits should always be conducted by employees internal to the organization

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Definitions:

Equilibrium Price

The price at which the quantity of a product offered is equal to the quantity of the product in demand.

Record-Keeping System

A method or system used for creating, maintaining, and managing records or documents for efficient and systematic storage and retrieval.

Job-Search Activities

Actions undertaken by individuals seeking employment, including networking, applying for jobs, attending interviews, and participating in job fairs.

Networking

The act of interacting with others to exchange information and develop professional or social contacts.