Final answer:
The correct internal control procedure for securing storage areas with limited access is 'd. Safeguarding assets and records', which includes measures like locks and controlled access to protect company assets.
Step-by-step explanation:
The internal control procedure followed when storage areas are secured with limited access is d. Safeguarding assets and records. This process is about implementing security measures to protect a company’s assets, which includes the physical security of inventory or equipment. Access to storage areas is usually restricted to those individuals who have proper authorization or are responsible for inventory management, thereby reducing the risk of theft, loss, or unauthorized use. Safeguarding also includes using physical controls like locks, security cameras, and alarm systems as part of a comprehensive asset protection strategy.