Under an effective system of internal control, errors occur only because of fraud or dishonesty.
Correct Answer:
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Q1: Bonding means insuring a company against theft
Q4: An effective system of internal control requires
Q6: Only large companies need to be concerned
Q7: Requiring employees to take vacations is a
Q7: When one individual is responsible for all
Q8: Employees sometimes commit fraud because of personal
Q9: A good system of internal control will
Q11: Segregation of duties among employees eliminates the
Q22: The most important element of the fraud
Q34: The separation of duties feature of internal
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