Internal control system is a set of policies and procedures used by managers to protect assets, promote efficient operations, ensure reliable record keeping, and uphold company policies. Managers use internal control systems to prevent avoidable losses, help plan operations, and monitor company and employees' performance. The internal control principle followed for each of the given cases.

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Chapter 6, Problem 2E

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Concept Introduction: Internal control system is a set of policies and procedures used by managers to protect assets, promote efficient operations, ensure reliable record keeping, and uphold company policies. Managers use internal control systems to prevent avoidable losses, help plan operations, and monitor company and employees' performance.

The internal control principle followed for each of the given cases.

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