Question

Summarize the internal control principle of establishing responsibility by completing the following sentence. Proper internal control means that responsibility for a ____________ (task/shortage/sale) is clearly _________ (posted/established/compensated) and assigned to one person
-Task
-Established

Answer 1

Answer:

Task  / established

Explanation:

Internal control was created for a couple of reasons:

1. to ensure that there is no corrupt practices occurring from within the organization.

2. To ensure that every single employees are held accountable to the tasks that given to them

3. A way for managers to monitor the productivity rate of the team.

'Tasks' are a set of duties that the employees need to fulfill during the operation, If one employees fail to fulfill any of their tasks, it could become a hindrance for another employees.

The word 'Established' Indicated that the task is strongly structured by the higher ups and the employees have no right to change it without the permission from the higher ups.