Question : True / False Questions 1. A properly designed internal control system a : 1386638

True / False Questions

1. A properly designed internal control system is a key part of accounting information systems design, analysis and performance. 

2. The use of internal controls provides guaranteed protection against losses due to operating activities. 

3. Internal control policies and procedures are the same for all companies. 

4. Maintaining adequate business records is an important internal control principle. 

5. Proper internal control means that the responsibility for a task is clearly established and assigned to one person. 

6. Technology such as cash registers, check protectors, time clocks and personal identification scanners can increase the strength of internal controls. 

7. An internal control system refers to the policies and procedures companies use to protect assets, ensure reliable accounting, promote efficient operations and urge adherence to company policies. 

8. Internal control systems used to monitor and control operations are a low priority for managers within the company. 

9. The principles of internal control include: establish responsibilities, maintain adequate records, insure assets, separate recordkeeping from custody of assets and perform regular and independent reviews. 

10. Bonding does not discourage employees from stealing from the company as employees know that bonding is an insurance policy against loss from theft.