Important Principles of Internal Control Include

question 96

Multiple Choice

Important principles of internal control include:

• A) that payment can be made without an approved voucher.
• B) that all transactions are backed with documentation.
• C) no separation of duties.
• D) all accounting staff have the same start time.

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Definitions:

Diffuse

Spread out over a large area; not concentrated or focused.

Procedural Fairness

Refers to the perceived fairness of the processes used to make decisions within organizations.

Distributive Fairness

The perceived fairness of the outcomes received, including resources and rewards, within an organization or social system.

Emotional Contagion

The phenomenon where emotions and behaviors can be transferred from one person to another, often unconsciously, leading to shared feelings or mimics in groups.