The internal control principle of establishing responsibility occurs when one employee is made responsible for all parts of a process.
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Q2: The purchasing,receiving,and bill payment duties are amalgamated
Q3: Five common principles of internal control are:
Q4: Restricted cash is not reported separately on
Q5: The three elements of the fraud triangle
Q6: EFT (electronic funds transfer)discovered on the bank
Q8: The primary internal control goal for cash
Q9: Internal controls,if properly implemented,can eliminate the opportunity
Q10: Cash equivalents are short-term highly liquid investments
Q11: An imprest system is a process that
Q12: Internal control will always detect fraud.
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