Internal Control Consists of the Related Methods and Measures Adopted

question 185

Short Answer

Internal control consists of the related methods and measures adopted to ____________ its assets and enhance the ______________ and ______________ of its accounting records.

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Definitions:

Security Needs

Fundamental requirements concerning an individual's or entity's need for safety and protection from harm.

Deficiency Needs

According to Maslow's hierarchy of needs, these are basic needs (such as food, shelter, and safety) that must be met before an individual can focus on higher-level psychological needs.

Security Needs

Basic human requirements for safety and protection from physical or emotional harm.

Esteem Needs

In Maslow's hierarchy of needs, these are the fourth level, including respect, self-esteem, status, recognition, strength, and freedom.