Multiple Choice
Which of the following is NOT true of a sound system of internal control?
A) Implementation of controls involves costs.
B) A sound system of internal control is the responsibility of management.
C) Through it, errors and irregularities will be eliminated.
D) It prevents collusion between employees.
Correct Answer:
Verified
Correct Answer:
Verified
Q4: Included in the bank statement was a
Q5: In preparing a bank reconciliation statement for
Q6: Alison Ltd's bank statement showed a debit
Q7: In preparing a bank reconciliation statement for
Q8: Segregation of duties involves:<br>A) clearly establishing lines
Q10: Simon Ltd's bank statement showed a credit
Q11: Included in the bank statement was a
Q12: In preparing a bank reconciliation statement for
Q13: In preparing a bank reconciliation statement for
Q14: Which of the following is NOT correct?