Multiple Choice
If employees are bonded,
A) it means that they are not allowed to handle cash.
B) they have worked for the company for at least 10 years.
C) they have been insured against misappropriation of assets.
D) it is impossible for them to steal from the company.
Correct Answer:
Verified
Correct Answer:
Verified
Q19: The custodian of a company asset should<br>A)have
Q20: For efficiency of operations and better control
Q21: Personnel who handle cash receipts should have
Q22: A highly automated computerized system of accounting
Q23: Maximum benefit from independent internal verification is
Q25: Collusion may result when one individual circumvents
Q26: Having one person responsible for the related
Q27: Having one person post entries to the
Q28: The petty cash fund eliminates the need
Q29: If a company deposits all its receipts