A Good Internal Control Feature Is to Have Several Employees

question 35

True/False

A good internal control feature is to have several employees choose one person to punch all of their time cards.

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Definitions:

Legal Relationship

A connection between entities or individuals that is recognized and governed by law, such as contracts, familial ties, or partnerships.

Legal Title

The formal right of ownership of property, recognized and protected by law.

Trust

A legal relationship in which a person who has legal title to property has the duty to hold it for the use or benefit of another person. The term is also used in a general sense to mean confidence reposed in one person by another.

Durable Power

A legal document that grants someone authority to act on another's behalf in legal or financial matters and remains in effect even if the grantor becomes incapacitated.