Indicate Whether Each of the Following Statements Regarding Internal Controls

question 119

True/False

Indicate whether each of the following statements regarding internal controls is true or false.
-Under proper internal controls, the person who collects customer payments should also maintain the accounting records of cash receipts

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Definitions:

Divisional Structure

A structure that organizes a company by units according to the products they make, the customer segments they serve, or the geographic location in which they operate.

Functional Structure

A structure that organizes a company into units identified by their functional roles, or what they do.

Meganational Companies

Companies that operate on a global scale, extending their products, operations, and marketing strategies across multiple countries.

Network Structure

A structure that organizes a company by groups that form to work on a project, and then dissolve once the project is complete.