Indicate whether each of the following statements about internal control and ethics is true or false.
-The absence of safety deposit boxes means that the company does not have an effective internal control system

Question

Quizplus · Accepted Answer

The absence of safety deposit boxes does not necessarily mean that a company does not have an effective internal control system. Safety deposit boxes may be one component of an internal control system, but there are other controls that can be implemented to safeguard assets.

Indicate Whether Each of the Following Statements About Internal Control