Indicate Whether Each of the Following Items Regarding Internal Control

question 51

True/False

Indicate whether each of the following items regarding internal control is true or false.
a)________ Accounting controls are composed of procedures designed to safeguard assets and ensure accounting records contain reliable information.b)________ Administrative controls concern the reliability of the financial statements and the accuracy of the general ledger.c)________ Whenever possible, the functions of authorization, recording and custody should be exercised by the same dependable employee.d)________ Cash is most susceptible to embezzlement at the points of receipt and disbursement.e)________ A well-designed internal control system prevents collusion among employees.

---

Definitions:

Environmental Leadership

The practice of influencing and guiding individuals and organizations to make choices that protect and preserve the natural world.

Radical Individual

An individual who prioritizes personal freedom and independence, often advocating for significant social, political, or economic changes.

Expressing Public Opinion

The act of citizens sharing their views and perspectives on various issues, often influencing public policy and decision-making processes.

Constitutional Democracy

A form of government characterized by the rule of law, separation of powers, protected freedoms, and the participation of the citizenry in the political process.