Which of the following provides the strongest safeguard against misuse of institutional funds?

Type: MCQ • Marks: 1

A. Proper sanction, budget control, authorised banking arrangements, records, vouchers, reconciliation and audit

B. Personal trust in the Principal

C. Verbal approvals

D. No financial records

Explanation

Internal controls should operate throughout the financial transaction cycle.

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UPSC Principal & Vice Principal Management Finance Administration

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