Internal control principles common to most, if not all, companies include:

Required:

1. Establishing responsibilities only over assets? Circle: True or False
2. Maintaining 100% accurate records? Circle: True or False
3. Insure assets? Circle: True or False
4. Bond all employees? Circle: True or False
5. Separate recordkeeping from custody of assets? Circle: True or False
6. Assign responsibilities to one person? Circle: True or False
7. Apply technology controls as appropriate? Circle: True or False
8. Perform control reviews only after problems? Circle: True or False
9. Rely only the companys independent auditors? Circle: True or False