'Internal Control' is the responsibility of: MCQ with Answer and Explanation

Explanation:
Posting to the wrong account (error of principle or wrong personal account) keeps the debit and credit totals equal, so the trial balance still agrees.

Explanation:
Internal check is a routine system where the work of one employee is automatically checked by another to prevent errors and frauds. It is an internal management function, not conducted by external auditors. S1 is correct, S2 is incorrect.

Explanation:
Deferred tax asset is recognized when accounting profit is lower than taxable profit due to timing differences, resulting in future tax savings.