A Person Who Controls or Has Access to an Asset

question 65

Essay

A person who controls or has access to an asset must not keep that asset's accounting records. This describes the internal control principle of _______________________.

---

Definitions:

Trade Restrictions

Measures implemented by governments to control or limit the flow of goods and services across borders, including tariffs, quotas, and import bans.

Domestic Supply

The total amount of goods and services that are produced within a country's borders and available for domestic consumption or export.

International Specialization

A method where countries or regions focus on producing goods and services they are most efficient at, to enhance global trade efficiency.

Economies Of Scale

The reduction in cost per unit of goods or services produced as the scale of output increases.