Which of the following would be considered a part of control activities in an internal control system?
A)Having large quantities of cash on hand
B)Separation of duties
C)Having a leadership philosophy
D)Locating weaknesses in an internal control system

Question

Quizplus · Accepted Answer

Separation of duties is a control activity in an internal control system that involves dividing responsibilities among different individuals to reduce the risk of errors and fraud. Having large quantities of cash on hand increases the risk of theft and is not a control activity. Having a leadership philosophy and locating weaknesses in an internal control system may be important for overall management and improvement but are not specific control activities.

Which of the Following Would Be Considered a Part of Control