Indicate Whether Each of the Following Items Regarding Internal Control

True/False

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 prevents collusion among employees.