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Jeff’s car broke down and smoke started rising from the engine. He felt lucky to have broken down while parked in the center of town during lunch when many people were outside and could help. However, 30 minutes has passed and despite the heavily populated area, nobody has offered assistance. This is an example of the
Mechanical Controls
Systems or processes designed to manage or regulate machinery or equipment to ensure efficiency and safety.
Physical Controls
Physical controls are security measures implemented to protect tangible assets, including locks, security cameras, and access control systems.
Internal Control
Procedures and practices implemented by a company to safeguard its assets, ensure accurate financial reports, and ensure compliance with laws and regulations.
Cash Disbursements
The outflow of cash for expenses, investments, and other payments during a given period.
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