Choose the most appropriate examples of the internal control principle, segregation of duties, from the below:Group of answer choicesassigning responsibility to the CEO for implementing strategy and assigning responsibility to the Human Resources Manager for all staff hires.verification by an internal auditor and checking done by another employee covering for an employee who is on annual leave.purchase of goods and the authorisation of payment for those goods are done by different employees in the organisation.having different documents for different functions in an organisation which contain evidence of transactions.

Select all that applyWhich of the following are principles of internal control?Multiple select question.Maintain adequate records.Divide responsibility for related transactions.Reduce vendor payables.Increase revenues.Perform regular and independent reviews.Establish responsibilities.

When duties cannot be segregated, the most important internal control procedure isSelect one:a.independent verificationb.supervisionc.accounting recordsd.access controls

Internal control is defined, in part, as a plan that... Question 3Answera.enhances the accuracy and reliability of accounting recordsb.all of the other options are correctc.eliminates mistakes and errorsd.prevents robbery and theft

Internal controls have certain limitations. Identify the alternative that is not one of those limitations.a.Controls are directed at routine and non-routine transactions.b.Management can abuse their responsibility.c.The potential of human error exists.d.The cost of implementing a control could exceed it benefits

Four techniques of internal control1. Basic controlWhere simple steps are taken to protect assets, insure valuables and items against theft, for example maintaining records of sales and express, whether or not one item is known to another. not only protect from inside but also from outside2. Supervisory controlMake sure the employee is doing the job right, give them regular performance reviews, train them and supervise them.3. Internal CheckIt is the regular checking that is known during the work to catch fraud e.g sale record and cash register are compared. And then cross-checking will find out whether it is a fraud or an error. It is for some department it is towards different activity to check error internal control is a broad term4.Internal audit