Which of the Following Is Included in the Internal Control

question 133

Multiple Choice

Which of the following is included in the internal control procedure-documents?

• A) Mandatory vacations will improve internal control.
• B) Separate the custody of assets from accounting.
• C) The invoices and orders must be pre-numbered.
• D) A company should purchase a fireproof vault to protect legal documents.

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Definitions:

Minor

Legally refers to an individual who is below the age of majority, and thus, has limited legal rights and responsibilities.

Avoid The Contract

The act of declaring a contract null and void, meaning it is treated as if it never existed due to breaches or violations of terms.

Ratification

The act of accepting and giving legal force to an obligation that previously was not enforceable.

Legal Force

the effect or power of law enforced by judicial or governmental institutions to mandate compliance or punish violations.