The Separation of Duties Feature of Internal Control Can Be

question 60

True/False

The separation of duties feature of internal control can be negated when several employees are involved in a scheme.

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Definitions:

Appellate Court

A higher court that reviews the decisions of lower courts to determine if legal errors were made that could change the outcome of a case.

Fraudulent Transactions

Financial transactions made with the intention of deceiving or defrauding others.

ATM Card

A plastic card issued by a bank, allowing the cardholder to withdraw cash, make deposits, or access account information at Automated Teller Machines.

Fraudulent Charge

Unauthorized transaction on a payment card or account, made without the owner's permission.