Separating the custody of assets from accounting for assets is a part of which element of internal control?

Name: Separating the custody of assets from accounting for assets is a part of which element of internal control?
Brand: Quizplus
Rating: 4.8 (52 reviews)

Question

Quizplus · Accepted Answer

Separating the custody of assets from accounting for assets is a control procedure that helps prevent fraud and errors in the financial statements. Control procedures are the specific policies and procedures established by management to achieve the objectives of internal control.

Separating the Custody of Assets from Accounting for Assets Is