Indicate Whether Each of the Following Items Regarding Internal Control

question 124

Short Answer

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 can prevent collusion by employees.

---

Definitions:

Stretch Reflex

A muscle contraction in response to stretching within the muscle, serving as a protective mechanism to prevent overstretching.

Golgi Tendon Reflex

A protective reflex mechanism that helps prevent muscle damage by causing muscle relaxation before muscle force becomes too extreme.

Muscle Spindle

A sensory receptor located within muscle, which detects changes in muscle length and tension.

Stretch Reflex

A muscle contraction in response to stretching within the muscle, functioning as a feedback mechanism to maintain muscle tone.