Having one perboy responsible for the related activities ofordering merchandise, receiving items, and also paying for them

A)

boosts the potential for errors and also fraud.

You are watching: All of the following are examples of internal control procedures except

B)

decreases the potential for errors and fraud.

C)

is an instance of good interior control.

D)

is an excellent example of safeguarding the company"s assets.

5.

When two or even more human being get together for the objective ofcircumventing prescribed controls, it is called

A)

a fraud committee.

B)

collusion.

C)

a division of duties.

D)

bonding of employees.

6.

From an internal manage standpoint, the asset many susceptibleto improper diversion and use is

A)

prephelp insurance.

B)

cash.

C)

structures.

D)

land also.

7.

A exceptionally tiny agency would have actually the many difficulty inimplementing which of the complying with interior controlactivities?

A)

Separation of duties

B)

Limited accessibility to assets

C)

Periodic independent verification

D)

Sound personnel procedures

8.

Two individuals at a retail store work the exact same cash register.You evaluate this situation as

A)

a violation of facility of obligation.

B)

a violation of separation of duties.

C)

supporting the establishment of duty.

D)

sustaining internal independent verification.

9.

If employees are bonded

A)

it means that they are not allowed to take care of cash.

B)

they have actually functioned for the firm for at leastern 10 years.

C)

they have been insured versus misappropriation of assets.

D)

it is impossible for them to steal from the agency.

See more: Chapter 23: The D Block Elements Are Known As, Chapter 23: The D

10.

In a little service, the lack of specific separations of dutiescan finest be get over by