is a method of organising the accounting system of a business concern or a factory by which the duties of various clerks are arranged in such a way that the work of one person is automatically checked by another.
a) Internal control
b) Internal check
c) Internal audit
d) All of the above
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Internal check is a method of organising the accounting system of a business concern or a factory by which the duties of various clerks are arranged in such a way that the work of one person is automatically checked by another.
Option (b)
More Information:
Characteristics of Internal check:-
- Provision of Check
- Self-balancing System
- Job Rotation
- Division of Work
Advantages of Internal check:-
- Increase in Efficiency
- Auditing Made Easy
- Test Checking Possible
- Detection of Dishonesty or Irregularity
- Correct and Complete Records of all the Transactions
Disadvantages of Internal check:-
- Not for Small Organization
- Grouping among Employees
- Expensive
- Chances of Collusion
- Disorder in Work
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Answer:
a) internal control
Explanation:
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