Important principles of internal control include:
A)that payment can be made without an approved voucher.
B)that all transactions are backed with documentation.
C)no separation of duties.
D)All of these answers are correct.

Question

Quizplus · Accepted Answer

Principle of internal control requires that all transactions must be backed with adequate documentation. Payment without an approved voucher goes against this principle. Separation of duties is also an important principle, and combining roles can lead to fraud or errors. Therefore, option D is incorrect as it includes an answer that goes against internal control principles.

Important Principles of Internal Control Include