Q8

Q8 Signify TRUE or FALSE as applicable for each of the following items as they pertain to an ideal internal control system.

Group of answer choices:

An ideal internal control system cannot be undermined by collusion among individuals.

True

False

Accounting department personnel should not perform any other operational functions.

True

False

The employee who signs checks should not reconcile the bank account.

True

False

The employee who prepares checks should not reconcile the bank account.

True

False

The employee who prepares checks should not sign checks.

True

False

The employee who physically handles inventory should not authorize payment for it.

True

False

The employee who physically handles inventory should not place orders with vendors.

True

False

The employee who places orders with vendors should not authorize payment for them.

True

False