Multiple Choice
The following explain limitations of internal control except:
A) Lack of proper employee training
B) The size of the company which makes segregation of duties difficult
C) Collusion occurring between two or more employees
D) If a company requires its employees to take vacations
Correct Answer:
Verified
Correct Answer:
Verified
Q1: Bank debit memorandum increases the bank balance.
Q3: EFT transactions have resulted in better internal
Q4: Internal control is more effective when _
Q5: Companies that have a lot of cash
Q6: Cash proceeds collected by the bank for
Q7: Related activities should be assigned to _
Q8: The separation of accounting responsibility from the
Q9: Each of the following is a control
Q10: When one individual is responsible for all
Q11: Independent reviews should occur periodically and should