QS $6-1($Algo$)$ Internal control objectives LO C$1$

Indicate which statements are true and which are false.

Separation of recordkeeping for assets from the custody over assets helps reduce fraud.

Separating the responsibility for a transaction between two or more individuals or departments will not help prevent someone from creating a fictitious invoice and paying the money to him$/$herself$.$

Separating the responsibility for a transaction between two or more individuals or departments never improves a system of internal control.

The internal control of separation of duties requires that employees duplicate each other's work.