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The Principles of Internal Control Include

Question 63
Multiple Choice

The principles of internal control include: A) Establish responsibilities. B) Maintain minimal records. C) Use only computerized systems. D) Bond all employees. E) Require automated sales systems.

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Q 64
Principles of internal control include all of the following except: A) Apply technological controls. B) Maintain minimal assets. C) Perform regular and independent reviews. D) Separate recordkeeping from custody of assets. E) Divide responsibilities for related transactions.
Q 65
A properly designed internal control system: A) Lowers the company's risk of loss. B) Insures profitable operations. C) Eliminates the need for an audit. D) Requires the use of non-computerized systems. E) Is not necessary if the company uses a computerized system.
Q 66
A company's internal control system: A) Eliminates the company's risk of loss. B) Monitors company and employee performance. C) Eliminates human error. D) Eliminates the need for audits. E) Eliminates the need for managers' certification of controls.
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