The Principles of Internal Control Include: Establish Responsibilities, Maintain Adequate

question 10

True/False

The principles of internal control include: establish responsibilities, maintain adequate records, insure assets, separate recordkeeping from custody of assets, and perform regular and independent reviews.

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Definitions:

Acceptance

The act of agreeing to the terms of an offer, forming the basis of a contract.

Offer

A proposal presented by one party to another with the intention of entering into a legally binding agreement.

Notification

The act or process of officially informing someone about something.

Unreasonable Means

Methods or tactics that are considered excessive, unjust, or not in accordance with logic or reason, often used in legal contexts to describe actions that go beyond what is fair or appropriate.