Which of the following assets require internal controls when accounting is performed?

The correct answer focuses on cash or cash equivalents as the assets that require strict internal controls when accounting is performed. This is primarily due to the high risk of theft, fraud, or mismanagement associated with these types of assets. Cash is highly liquid, meaning it can be easily transferred and utilized, which makes it a primary target for potential fraudulent activities.

Implementing robust internal controls for cash or cash equivalents includes measures such as segregation of duties, regular reconciliations, secure storage procedures, and proper authorization for cash disbursements. These controls help ensure that all transactions are properly recorded, authorized, and monitored, minimizing the risk of errors or misconduct.

On the other hand, while other assets listed, such as office furniture, marketable securities, and inventory records, may also require some level of oversight and controls, they do not carry the same immediate risk profile as cash. Generally, assets that are more difficult to liquidate or convert to cash do not necessitate as stringent internal controls. Therefore, the focus on cash or cash equivalents as requiring internal controls is aligned with best practices in financial management and risk mitigation.