Of the Following Statements About Internal Controls, Which One Is

question 28

Multiple Choice

Of the following statements about internal controls, which one is least likely to be correct?

• A) No one person should be responsible for the custodial responsibility and the recording responsibility for an asset.
• B) Transactions must be properly authorized before such transactions are processed.
• C) Because of the cost-benefit relationship, a client may apply controls on a test basis.
• D) Control procedures reasonably ensure that collusion among employees cannot occur.

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Definitions:

Inspiratory Phase

The period during breathing when air is inhaled into the lungs.

Expiratory Phase

The phase of respiration where air is expelled from the lungs, usually following the inspiratory phase during which air is inhaled.

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A vaccine designed to prevent infections by certain types of human papillomavirus (HPV), which can lead to cervical cancer and other HPV-related diseases.

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