The Principles of Internal Control Include Which of the Following

question 20

Multiple Choice

The principles of internal control include which of the following?

• A) Use only computerized systems
• B) Establish responsibility
• C) Maintain perpetual inventory records
• D) Eliminate fraud

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Definitions:

Statute

A written law formally enacted by legislative authority.

Regulation

Rules or directives made and maintained by an authority to control or govern conduct.

Published Decision

An official decision of a court that is recorded and made available to the public, often setting a precedent.

Binding Precedent

A previous legal decision or judgment that must be followed by courts in future cases of a similar nature within the same jurisdiction.