Which of the Following Describes the Internal Control Procedure Assignment

question 109

Multiple Choice

Which of the following describes the internal control procedure assignment of responsibilities?

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

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Definitions:

Regulator Movements

Groups of backcountry settlers in the 18th-century American colonies who protested against colonial officials' corruption and advocated for government reform.

South Carolina

A state in the southeastern region of the United States, known for its shorelines, historical significance, and as the first state to secede from the Union during the Civil War.

North Carolina

A state located in the southeastern region of the United States, known for its diverse landscapes from the Atlantic coastal plains to the Appalachian Mountains, and a rich history including roles in the Civil War and civil rights movements.

Joseph Galloway's Plan

A proposal made by Joseph Galloway in 1774 during the First Continental Congress to seek a reconciliation between the American colonies and Great Britain, which was ultimately rejected leading towards the path of independence.