Which of the Following Statements Concerning Internal Control Is True

question 21

Multiple Choice

Which of the following statements concerning internal control is true?

• A) Double entry accounting is an internal control.
• B) Fraud will be eliminated by good internal control.
• C) Physical counts of stock on hand are not part of internal control procedures.
• D) It is OK to pay accounts out of unbanked receipts as long as a note is made of what has occurred.

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Definitions:

Minoan Pottery

Ancient ceramic works produced by the Minoan civilization on Crete and other Aegean islands, noted for their complex patterns and vibrant colors.

Kamares Ware

A type of Minoan pottery from Crete, dating to the Middle Bronze Age, celebrated for its intricate, dark patterns on a light background.

Lion Gate

The main entrance of the Bronze Age citadel of Mycenae in Greece, characterized by its monumental structure and the iconic relief of two lions.

Mycenaean Site

Archaeological locations associated with the Mycenaean civilization in Greece, characterized by fortified palaces and rich grave goods.