INTERNAL CHECK SYSTEM

Arrangement in which work of one individual is checked by other member is called_____________________.

Under internal check, employees need to be _______________among the jobs periodically.

The logic behind the internal check is

• Encouraging division of work

• Minimizing fraud

• Facilitating early submission of financial statement

• Not giving the power of executing a transaction from beginning to end to a single individual

Internal auditor is appointed by______________

• Central government

• State Government

• Management

• Shareholders

Internal check is a part of

• Internal audit

• Internal accounting

• External Audit

• Internal control

Effective internal check system reduces

• The liability of auditor

• Work of auditor

• Responsibilities of an auditor

• None of the above

. Internal check is suitable for _______.

• Large concerns

• Smaller concerns

• Petty-shop keepers

• None of the above