menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Fundamentals of Financial Accounting Study Set 3
  4. Exam
    Exam 6: Merchandising Operations and the Multistep Income Statement
  5. Question
    Which of the Following Principle of Internal Control Requires Application
Solved

Which of the Following Principle of Internal Control Requires Application

Question 15

Question 15

Multiple Choice

Which of the following principle of internal control requires application of need basis?


A) Establish responsibility.
B) Segregate duties.
C) Restrict access.
D) Document procedures.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q10: A retail chain sells 100 designer sheet

Q11: Only companies that use a periodic inventory

Q13: A company sells three different products.The first

Q14: A retailer sells plasma TVs at a

Q16: The terms "sales discounts" and "purchase discounts"

Q17: Coca-Cola reported net sales revenues of $19.8

Q17: Using a contra-revenue account for sales returns

Q18: The main purposes of internal controls include:<br>A)prevention

Q19: Unlike manufacturers and merchandisers,service companies do not

Q161: Which of the following is an activity

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines