Indicate Which of the Features of an Effective Internal Control

question 19

Multiple Choice

Indicate which of the features of an effective internal control system are involved in the practices set out in the following question.
-Segregation of duties involves:

• A) clearly establishing responsibility lines
• B) maintaining effective records
• C) separating record-keeping from handling of assets
• D) physically protecting sensitive assets.

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Definitions:

Maintenance Rehearsal

Mechanical repetition of material without thinking about its meaning or patterns.

Primacy Effect

A cognitive bias that results in the tendency to remember information that was encountered first better than information that was presented later on.

Recency Effect

The tendency to remember the most recently presented information better than information presented earlier.

Free Recall

Free recall is a memory test in which an individual is asked to remember and reproduce information in any order without any specific cues.