What Is a Fundamental Principle of Internal Control to Prevent

question 4

Multiple Choice

What is a fundamental principle of internal control to prevent fraud?

• A)Separate duties and responsibilities.
• B)Require employee collusion.
• C)Eliminate internal audits.
• D)Eliminate independent audits.

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Definitions:

Borrower

An individual or entity that takes something, especially money, on loan with the obligation to return it or repay the equivalent.

Condominium

A form of home ownership where each unit is individually owned.

Single-family Dwelling

A residential structure designed to house one family unit independently.

Common Parts

Areas within a property or building that are available for use by all occupants or owners, such as lobbies, gyms, and shared outdoor spaces.