Question 1: What is a current asset? What is a non-current asset? What is the difference between the two types of assets? In which financial statement would you find these assets?
Question 2: What are internal controls? Why do companies need them? What are some examples of internal controls? Who is responsible for developing internal controls?
Question 3: Could please explain to me the controls required for "cash"? Why are they important?
Question 4: Please Identify the Principles of Internal Control? Are there are six or seven?