Which of the following is an internal control procedure?
A)segregation of duties
B)policies and procedures
C)reliable transaction trails
D)independent reconciliations
E)relevant controls that limit access to assets
F)both A and D
G)both A and E
H)both B and D

Question

Quizplus · Accepted Answer

Segregation of duties and independent reconciliations are both examples of internal control procedures. Policies and procedures are important, but they are not specifically an internal control procedure. Reliable transaction trails and relevant controls that limit access to assets are also important aspects of internal controls, but they are not specifically procedures. Therefore, the best answer choice is F, which includes two internal control procedures.

Which of the Following Is an Internal Control Procedure