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internal control

DEFINITIONS OF: internal control

1

n an accounting procedure or system designed to promote efficiency or assure the implementation of a policy or safeguard assets or avoid fraud and error etc.

Types:
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inventory control
supervision of the supply and storage and accessibility of items in order to insure an adequate supply without excessive oversupply
management control
an internal control performed by one or more managers
quality control
maintenance of standards of quality of manufactured goods
acceptance sampling
a statistical procedure for accepting or rejecting a batch of merchandise or documents; involves determining the maximum number of defects discovered in a sample before the entire batch is rejected
Type of:
control
the activity of managing or exerting control over something
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