Principles of internal control include:
A) Establish responsibilities.
B) Maintain adequate records.
C) Insure assets.
D) Bond key employees.
E) All of these answers are correct.

Question

Quizplus · Accepted Answer

All of these principles are essential components of a strong system of internal control. Establishing clear responsibilities, maintaining detailed records, insuring assets against loss, and bonding key employees all contribute to ensuring that the organization's resources are protected and that financial reporting is accurate and reliable.

Principles of Internal Control Include