Which internal control procedure is followed when storage areas are secured with limited access?
A)Segregation duties
B)Safeguarding assets and records
C)Independent verification
D)Proper authorizations

Question

Quizplus · Accepted Answer

By securing storage areas with limited access, the company is safeguarding its assets and records from unauthorized access, theft, and damage. This is a crucial internal control procedure that ensures the safety and integrity of the company's resources. Segregation of duties, independent verification, and proper authorizations are also important internal control procedures, but they don't directly address the issue of safeguarding assets and records.

Which Internal Control Procedure Is Followed When Storage Areas Are