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The work of one clerk is automatically check by another clerk is called _________.
Internal control.
Internal check.
Internal audit.
None of the above.
- Internal control: This refers to the whole system of controls, financial or otherwise, designed to safeguard assets, ensure accuracy and reliability of records, enhance operational efficiency, and ensure adherence to policies.
- Internal check: This is a part of internal control. It specifically involves the division of responsibilities so that the work of one person is automatically checked by another. It's a way to ensure that errors are caught at each step of a process.
- Internal audit: This is an independent appraisal function within an organization. It reviews operations as a service to management, evaluating the effectiveness of internal controls and processes.
- None of the above: This means that none of the first three options are correct.
The correct answer is:
Internal check
By: Parvesh Mehta ProfileResourcesReport error
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