Question

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

Answer 1

Answer and Explanation:

Accounting control is the techniques and methods that are actualized by a firm to help guarantee the legitimacy and exactness of its budget summaries. The bookkeeping controls don't guarantee consistence with laws and guidelines, but instead are intended to enable an organization to go along.

Resource responsibility guarantees that benefits are represented, appropriately reported and verified, and discernible to explicit.