The asset requiring the highest level of internal control is:

Question

Quizplus · Accepted Answer

Cash is the asset that requires the highest level of internal control because it is the most liquid asset and can easily be misappropriated. Effective measures must be put in place to ensure that cash is properly handled and accounted for, including measures such as segregation of duties, regular reconciliations, and diligent monitoring. This is especially important since the mishandling of cash can lead to serious financial consequences for a company.

The Asset Requiring the Highest Level of Internal Control Is