Indicate Whether Each of the Following Statements Regarding Internal Controls

Short Answer

Indicate whether each of the following statements regarding internal controls is true or false.
_____ a) Internal controls are used to provide absolute assurance that the objectives of an enterprise will be accomplished.
_____ b) Internal controls can be divided into accounting controls and administrative controls.
_____ c) The mechanics of internal control systems vary from company to company.
_____ d) Accounting controls are concerned with the evaluation of performance and the assessment of the degree of compliance with company policies and public laws.
_____ e) Administrative controls are composed of policies and procedures that are designed to safeguard the assets and to assure that accounting records contain reliable information.