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.

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Definitions:

Gender School

could pertain to an educational setting or curriculum focusing on understanding gender identities, roles, and relations, but the specific term is not widely recognized as standard. NO.

Playground

An outdoor area provided for children to play in, especially at a school or public park.

Parental Influences

The effects that parents have on their children's development, behaviors, beliefs, and personality.

Treating

The act of providing medical care or attention to someone or something.