Prenumbered Printed Cheques Are an Example of Which Internal Control

question 3

Multiple Choice

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

• A) Technological controls.
• B) Maintain adequate records.
• C) Perform regular and independent reviews.
• D) Technological controls and maintain adequate records.
• E) All of these answers are correct.

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Definitions:

Manufacturing Firm

A company that produces goods through the process of raw materials using labor and machinery.

Cost Accounting Systems

Methods and procedures used for collecting, classifying, summarizing, and analyzing a company's costs to help in budgeting, controlling, and decision-making.

Product Costs

Direct costs associated with the production of goods sold by a company, including direct materials, direct labor, and manufacturing overhead.

Process Cost Accounting System

An accounting system that accumulates costs for each process or department within a production environment.