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satela [25.4K]
3 years ago
14

__________ is a cornerstone in the protection of information assets and in the prevention of financial loss.

Business
2 answers:
aliina [53]3 years ago
7 0

Answer:

Separation of duties.

Explanation:

Internal controls can be defined as the policies, set of rules, and procedures implemented or put in place by an organization to protect its assets, boost efficiency, enhance financial accountability, enforce adherence to company policies and prevent fraudulent behaviors among the employees.

The main purpose of internal controls is to guarantee that loss is eliminated by ensuring that there is an accurate and reliable accounting system.

One of the essential characteristics of internal control is the principle of establishing responsibility such as assigning responsibility to specific individuals. An internal control is considered to be most effective when an individual is solely responsible for a specific accounting task.

Hence, the principle of establishing responsibility include the following;

I. Only one person or an individual is being responsible for a task.

II. An individual is solely responsible for the authorization of transactions.

III. An individual is solely responsible for the approval of transactions.

Separation of duties is a cornerstone used as an internal control measure for the protection of information assets and in the prevention of financial loss.

According to the separation of duties, an employee such as an accountant who opens a bank statement should not be the same person that is saddled with the responsibility of reconciling cash inflow and outflow.

aleksandr82 [10.1K]3 years ago
4 0

Answer:

<h2>separation of duties</h2>

Explanation:

<em><u>separation of </u></em><em><u>duties </u></em> is a cornerstone in the protection of information assets and in the prevention of financial loss.

hope it is helpful to you

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Explanation:

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Every person I have ever met says their favorite pizza is pepperoni pizza. Therefore, I can assume that everyone I ever meet wil
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Inductive reasoning

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In this case, the person met many of them who says that their favorite pizza is pepperoni and then every time that someone say that they love pizza, this person will think of pepperoni pizza because of the previous experiences that caused those observations.

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3 years ago
At the local ballpark, the team charges $5 for each ticket and expects to make $1,400 in concessions. the team must pay its play
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To break even they must be able to sell 1,100 tickets during the event. 

The immediate cost is set at
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Assuming that fans would reach around 200 people that would be:
$3 X 200 =$600 (free bat costing)

Overall cost would be at: $3,600 + $600 = $4,200

To break even the computation will be as follows: 
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6 0
3 years ago
You have responsibility for economic policy in the country of Freedonia. Recently, the neighboring country of Sylvania has cut o
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8 0
3 years ago
You start work at 7:30 am and take a half an hour unpaid lunch at 11:30 AM and then start work at 5:30 PM. How much hours will y
scoray [572]

The number of hours worked for which I will the receive the payment is 7 hours.

<u></u>

<u>Explanation:</u>

Considering the working hour is from 7:30 am to 8:30 pm

Initial work hours = 7:30 to 11:30am

number of hours = 4

If I start working at 5:30 pm and work till 8:30 pm then the number of hours would be 3

Thus,

total number of hours worked = 4 + 3

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Therefore, number of hours worked for which I will the receive the payment is 7 hours.

6 0
2 years ago
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