Principles of Internal Control Include All of the Following Except

question 90

Multiple Choice

Principles of internal control include all of the following except:

• A) Apply technological controls.
• B) Maintain minimal assets.
• C) Perform regular and independent reviews.
• D) Separate recordkeeping from custody of assets.
• E) Divide responsibilities for related transactions.

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Definitions:

Ordinary Annuity

Consecutive settlements of equal value made at the end of each period over an established length of time.

Annuity Due

A financial product that pays out a series of payments at the beginning of each period, such as monthly or annually.

Present Value

The current value of a future sum of money or stream of cash flows given a specified rate of return, commonly used to appraise long-term projects.

Discount Rate

The interest rate used to determine the present value of future cash flows in discounted cash flow analysis. It reflects the opportunity cost of capital.