Collusion may result when one individual circumvents prescribed controls and may significantly impair the effectiveness of a system.
Correct Answer:
Verified
Q16: A segregation of duties among employees eliminates
Q17: The responsibility for ordering receiving and paying
Q18: Cash registers are an important internal control
Q19: Electronic Funds Transfer (EFT) is a disbursement
Q20: In order to prevent a transaction from
Q23: Which one of the following is not
Q24: Internal controls are concerned with
A) only manual
Q25: A voucher system is used by many
Q26: To obtain maximum benefit from a bank
Q45: The petty cash fund eliminates the need
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