The chapter covers the purpose of Internal Control, and introduces the following principles of internal control. Apply the following concepts (Do not apply some hard concepts b/c the class might not yet cover them) to create a no more than 200-word response to the dicussion.1) establish responsibilities2) maintain adequate records3) insure assets and bond key employees4) separate recordkeeping from custody of asstes5) divde responsibility for related transactions6) apply technological controls7) perfrom regular and independent reviews
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