1. Maintaining adequate records is an important internal control principle. A) T
ID: 2536701 • Letter: 1
Question
1. Maintaining adequate records is an important internal control principle.
A) True
B) False
2. Clearly establishing responsibilities and assigning all accounting activities to one person is an
important principle of internal control.
A) True
B) False
3. Cash registers, time clocks, and personal identification scanners are examples of technologies that
can improve internal control.
A) True
B) False
4. An internal control system consists of the policies and procedures companies use to protect assets,
ensure reliable accounting, promote efficient operations, and uphold company policies.
A) True
B) False
5. Insuring assets and requiring all accounting personnel to have CPA licenses are two important
principles of internal control.
A) True
B) False
Explanation / Answer
A
1. Maintaining adequate records is an important internal control principle.
Answer: True
____________________________________________________________________
2. Clearly establishing responsibilities and assigning all accounting activities to one person is an
important principle of internal control.
Answer: False
_________________________________________________________________
3. Cash registers, time clocks, and personal identification scanners are examples of technologies that
can improve internal control.
Answer: True
_________________________________________________________________________
4. An internal control system consists of the policies and procedures companies use to protect assets,
ensure reliable accounting, promote efficient operations, and uphold company policies.
Answer: True
___________________________________________________________________________
5. Insuring assets and requiring all accounting personnel to have CPA licenses are two important
principles of internal control.
Answer: False
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