Define internal control. Who is responsible for establishing an effective system of internal control? What is the major constraint of any system of internal control?
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Q7: Different people should perform various accounting duties
Q8: Safeguarding the assets the business uses in
Q9: Keeping office supplies under lock and key
Q10: List at least five characteristics of an
Q11: One characteristic of an effective system of
Q13: Internal control is the organizational plan that
Q14: Which one of the following is not
Q15: Internal control is the organizational plan and
Q16: Internal control does not:
A)help safeguard the assets
Q17: The sole purpose of systems of internal
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