Which of the Following Is an Attribute of the Internal

question 94

Multiple Choice

Which of the following is an attribute of the internal control procedure-assignment of responsibilities?

• A) To validate their accounting records, a company should have an audit by an external accountant.
• B) The company should separate the custody of assets from accounting.
• C) The external auditors will monitor internal controls.
• D) Each position has clearly assigned responsibilities.

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Definitions:

Self-Serving Tactics

Behaviors or strategies individuals use to promote their own interests or benefit themselves, often at the expense of others.

Separate Interests

Distinct or individual concerns, desires, or goals that may not necessarily align with those of others.

Coalition

An alliance between individuals, groups, or nations, formed temporarily to achieve a specific goal, often combining resources for greater influence or power.

Stalemate

A situation, often in a game of chess, where no move can lead to a checkmate, resulting in a draw; metaphorically, any situation where progress is impossible.