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1 it is necessary for the owners and top managers to demonstrate the importance of i 4300676

 

 

 

1) It is necessary for  the owners and top managers to demonstrate the importance of internal controls in order to expect the employees to take the controls seriously.

 

2) It is poor planning to have employees rotate through jobs.

 

3) Separation of authorization of transactions from custody of related assets is related to proper separation of duties.

 

4) The controller is responsible for cash management in an organization.

 

5) Different people should perform various accounting duties to minimize errors and the opportunities for fraud.

 

6) One characteristic of an effective system of internal control is competent, reliable, and ethical personnel.

7) External auditors are entirely independent of a business.

 

8) A Trojan hides inside a legitimate program and works like a virus.

 

9) The person to whom a cheque is paid is referred to as the maker.

 

10) Separation of duties and  responsibilities is essential in the control procedures for both cash receipts and cash disbursements.

 

 

 

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