Prenumbered Printed Checks Are an Example of Which Internal Control

question 113

Multiple Choice

Prenumbered printed checks are an example of which internal control principle?

• A) Technological controls.
• B) Maintain adequate records.
• C) Perform regular and independent reviews.
• D) Establish responsibilities.
• E) Divide responsibility for related transactions.

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Definitions:

Dependent Variable

A variable in an experiment or study whose changes are determined by the presence or variation of one or more independent variables.

Interest Rate

The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding.

Investment

The allocation of capital to purchase assets or securities with the expectation of generating future profits or income.

Slope

A measure of the steepness or inclination of a line, calculated as the ratio of the vertical change to the horizontal change between two points on the line.