Question: please help * Internal controls, if properly implemented, will always detect fraud. True or False * incentives for engaging in fraud can generally be divided
please help
* Internal controls, if properly implemented, will always detect fraud. True or False
* incentives for engaging in fraud can generally be divided into two categories: creating business opportunities and satisfying personal greed. True or False
* Employee fraud is grouped into three categories: corruption, asset misappropriation, and financial statement fraud. True or False
* Time lags are uncommon and the way to properly account for them will depend on whether a company is following IFRS or ASPE. True or False
* The primary goal of internal controls for cash receipts is to ensure that the business pays only for properly authorized transactions. True or False
* A voucher system is a process for approving and documenting all purchases and payments on account. True or False
* If a company's records show a different cash balance from that shown on the company's bank statement, either the company or the bank has made an error. True or False
* Internal controls include the policies and procedures a company implements to protect against theft of assets, to promote efficiency, and to ensure compliance with laws and regulations. True or False
* After preparing a bank reconciliation, no adjusting journal entries need to be made for outstanding cheques or deposits in transit. True or False
* NSF cheques are recorded as accounts payable. True or False
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