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.

---

Definitions:

Monster Run Amok

A situation or narrative element where a creature or entity escapes control, causing chaos or destruction.

Course Materials

Educational resources provided for the curriculum of a course, including textbooks, online resources, and lecture notes.

United States

A country in North America consisting of 50 states and a federal district, known for its significant influence on world politics, economy, and culture.

Technopoly

A term coined by Neil Postman, describing a society that blindly accepts and glorifies the dominance of technology and technological advancements over culture and human values.