Principles of Internal Control Include

question 46

Multiple Choice

Principles of internal control include:

• A)Maintain adequate records.
• B)Insure assets.
• C)Establish responsibilities.
• D)Bond key employees.
• E)All of these answers are correct.

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Definitions:

Labour Standard

Labour standard represents the amount of time required to perform a job or part of a job at a defined level of performance, often used in planning and evaluating labor efficiency.

Work Sampling

A statistical technique used to estimate how much time workers spend on various activities during their workday.

Disadvantages

Negative or less favorable aspects of a situation, plan, or product that may act as hurdles or drawbacks.