A highly automated computerized system of accounting eliminates the need for internal control.
Correct Answer:
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Q6: Only large companies need to be concerned
Q7: Requiring employees to take vacations is a
Q8: Internal control is mainly concerned with the
Q9: Firms use physical controls primarily to safeguard
Q11: Control over cash disbursements is improved if
Q12: The responsibility for keeping the records for
Q13: An effective system of internal control requires
Q14: Checks received in the mail should be
Q15: Internal control is most effective when several
Q21: For efficiency of operations and better control
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