CH 6 Internal Controls Flashcards

(4 cards)

1
Q

Internal Controls

A

Set of polices and procedures to protect assets

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2
Q

Fraud Triangle

A

Opportunity is the easiest to change

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3
Q

Petty Cash

A

Small batch of cash to handle incidental expenses

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4
Q

Bank Reconciliation

A

Matching bank records with company records.

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