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Which internal control principle prescribes the use of pre-numbered printed checks? A
Which internal control principle prescribes the use of pre-numbered printed checks?
A. Technological controls.
B. Maintain adequate records.
C. Perform regular and independent reviews.
D. Establish responsibilities.
E. Divide responsibility for related transactions.
Expert Solution
The correct answer is B. Maintain adequate records.
Maintain adequate records is one of the internal controls that protects assets and ensures that employees would use the prescribed procedures.
Pre-numbered printed checks can track checks that were tampered or missing and would help detect some unrecorded disbursements.
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