The internal control process of requiring physical controls in place in areas where fixed assets are held, will help to minimize the risk of:
A)Incorrect amounts
B)Lost or stolen assets
C)Duplicate transactions
D)Omitted transactions

Question

Quizplus · Accepted Answer

Requiring physical controls in areas where fixed assets are held helps to minimize the risk of lost or stolen assets. It does not directly address the risk of incorrect amounts, duplicate transactions, or omitted transactions.

The Internal Control Process of Requiring Physical Controls in Place