A Good System of Internal Control Requires That the Physical

question 94

True/False

A good system of internal control requires that the physical custody of assets be separated from the accounting for those assets. This concept is known as safeguarding of assets and records.

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Definitions:

Construct

An abstract concept that is specifically chosen or created to explain a given phenomenon.

True-Experimental Design

True-experimental design is a type of experimental research methodology that involves the manipulation of variables, control of extraneous variables through random assignment, and the comparison between a control group and one or more experimental groups to determine causal relationships.

Cause and Effect

A relationship between two events where one event (the cause) directly results in the other event (the effect).

Applied Research

Research aimed at solving practical problems rather than acquiring knowledge for knowledge's sake.