Identify Which Principle of Internal Control Is Being Followed in Each

question 212

Essay

Identify which principle of internal control is being followed in each of the following cases.
1. Warehouse employees do not have access to the accounting records.
2. Pre-numbered shipping documents are prepared for each shipment of goods.
3. The locked warehouse is accessible only by warehouse employees with keys.

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Definitions:

Managerial Control

The process by which an organization's management ensures that its resources are being used effectively and efficiently in the achievement of the organization's objectives.

Joint Control

a management or operational strategy where two or more parties share decision-making authority and responsibility.

Leadership Styles

Different approaches or methods that leaders use to guide, motivate, and manage teams or organizations, each with its own unique set of behaviors and techniques.

Technical Competence

The ability to perform a specific task or function with proficiency, often relating to technical or specialized skills.