Which of the Following Principle of Internal Control Requires Application

question 15

Multiple Choice

Which of the following principle of internal control requires application of need basis?

• A)Establish responsibility.
• B)Segregate duties.
• C)Restrict access.
• D)Document procedures.

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Definitions:

Cost Per Employee

The total cost incurred by a company divided by the number of its employees, often used to measure efficiency.

Annual Report

A comprehensive report detailing a company's activities and financial performance throughout the preceding year.

Wage Rate

The amount of money a worker is paid per unit of time (such as an hour) worked.

Accounts Payable

The amount of money that a company owes to its suppliers or vendors for goods and services received but not yet paid for.