Indicate Whether Each of the Following Statements Regarding Internal Controls

question 99

True/False

Indicate whether each of the following statements regarding internal controls is true or false.
a)________ Segregation of duties is an internal control feature that requires different individuals to perform the following functions: authorization, recording, and custody of assets.b)________ Under proper internal controls, the person who collects customer payments should also maintain the records of cash receipts.c)________ Under proper internal controls, those who are given authority should bear the corresponding responsibility.d)________ One of the basic rules of internal control is to require some employees to take regular vacations.e)________ A fidelity bond is a form of insurance that companies ask employees to buy to protect the company from loss due to employee dishonesty.

---

Definitions:

Great Mosque

A term used for a region's or nation's main mosque, which is a significant place for communal prayer in the Islamic faith.

Damascus

The capital and one of the oldest continuously inhabited cities in the world, located in Syria, known for its rich history.

Mosque Location

Refers to the geographical setting where a mosque, a place of worship for Muslims, is or can be situated.

Istanbul

A major city in Turkey that straddles Europe and Asia across the Bosphorus Strait and has a long history, including serving as the capital of the Roman, Byzantine, and Ottoman Empires.