Indicate Whether Each of the Following Statements Regarding Internal Controls

True/False

Indicate whether each of the following statements regarding internal controls is true or false.
a)________ Segregation of duties is an internal control feature that requires different individuals to perform the following functions: authorization, recording, and custody of assets.b)________ Under proper internal controls, the person who collects customer payments should also maintain the records of cash receipts.c)________ Under proper internal controls, those who are given authority should bear the corresponding responsibility.d)________ One of the basic rules of internal control is to require some employees to take regular vacations.e)________ A fidelity bond is a form of insurance that companies ask employees to buy to protect the company from loss due to employee dishonesty.