a.

Internal control may be ineffective due to mistakes in judgment and pers

onal carelessness.
b. Adequate safeguards over access to assets and records should permit an e
ntity to maintain proper accountability.
c. Establishing and maintaining internal control is an important responsibi
lity of management.
d. The cost of an entitys internal control should not exceed the benefits ex
pected to be derived.
3. Proper segregation of functional responsibilities calls for separation o
f the functions of
a. Authorization, execution, and payment.
a. Internal control may be ineffective due to mistakes in judgment and pers
onal carelessness.
b. Adequate safeguards over access to assets and records should permit an e
ntity to maintain proper accountability.
c. Establishing and maintaining internal control is an important responsibi
lity of management.
d. The cost of an entitys internal control should not exceed the benefits ex
pected to be derived.
3. Proper segregation of functional responsibilities calls for separation o
f the functions of
a. Authorization, execution, and payment.
a. Internal control may be ineffective due to mistakes in judgment and pers
onal carelessness.
b. Adequate safeguards over access to assets and records should permit an e
ntity to maintain proper accountability.
c. Establishing and maintaining internal control is an important responsibi
lity of management.
d. The cost of an entitys internal control should not exceed the benefits ex
pected to be derived.
3. Proper segregation of functional responsibilities calls for separation o
f the functions of
a. Authorization, execution, and payment.
a. Internal control may be ineffective due to mistakes in judgment and pers
onal carelessness.
b. Adequate safeguards over access to assets and records should permit an e
ntity to maintain proper accountability.
c. Establishing and maintaining internal control is an important responsibi
lity of management.
d. The cost of an entitys internal control should not exceed the benefits ex
pected to be derived.
3. Proper segregation of functional responsibilities calls for separation o
f the functions of
a. Authorization, execution, and payment.
a. Internal control may be ineffective due to mistakes in judgment and pers
onal carelessness.
b. Adequate safeguards over access to assets and records should permit an e
ntity to maintain proper accountability.
c. Establishing and maintaining internal control is an important responsibi
lity of management.
d. The cost of an entitys internal control should not exceed the benefits ex
pected to be derived.
3. Proper segregation of functional responsibilities calls for separation o
f the functions of
a. Authorization, execution, and payment.
a. Internal control may be ineffective due to mistakes in judgment and pers
onal carelessness.
b. Adequate safeguards over access to assets and records should permit an e
ntity to maintain proper accountability.
c. Establishing and maintaining internal control is an important responsibi
lity of management.
d. The cost of an entitys internal control should not exceed the benefits ex
pected to be derived.
3. Proper segregation of functional responsibilities calls for separation o
f the functions of
a. Authorization, execution, and payment.
a. Internal control may be ineffective due to mistakes in judgment and pers
onal carelessness.
b. Adequate safeguards over access to assets and records should permit an e
ntity to maintain proper accountability.
c. Establishing and maintaining internal control is an important responsibi
lity of management.
d. The cost of an entitys internal control should not exceed the benefits ex
pected to be derived.
3. Proper segregation of functional responsibilities calls for separation o
f the functions of
a. Authorization, execution, and payment.
a. Internal control may be ineffective due to mistakes in judgment and pers
onal carelessness.
b. Adequate safeguards over access to assets and records should permit an e
ntity to maintain proper accountability.
c. Establishing and maintaining internal control is an important responsibi
lity of management.
d. The cost of an entitys internal control should not exceed the benefits ex
pected to be derived.
3. Proper segregation of functional responsibilities calls for separation o
f the functions of
a. Authorization, execution, and payment.
a. Internal control may be ineffective due to mistakes in judgment and pers
onal carelessness.
b. Adequate safeguards over access to assets and records should permit an e
ntity to maintain proper accountability.
c. Establishing and maintaining internal control is an important responsibi
lity of management.
d. The cost of an entitys internal control should not exceed the benefits ex
pected to be derived.
3. Proper segregation of functional responsibilities calls for separation o
f the functions of
a. Authorization, execution, and payment.
a. Internal control may be ineffective due to mistakes in judgment and pers
onal carelessness.
b. Adequate safeguards over access to assets and records should permit an e
ntity to maintain proper accountability.
c. Establishing and maintaining internal control is an important responsibi
lity of management.
d. The cost of an entitys internal control should not exceed the benefits ex
pected to be derived.
3. Proper segregation of functional responsibilities calls for separation o
f the functions of
a. Authorization, execution, and payment.
a. Internal control may be ineffective due to mistakes in judgment and pers
onal carelessness.
b. Adequate safeguards over access to assets and records should permit an e
ntity to maintain proper accountability.
c. Establishing and maintaining internal control is an important responsibi
lity of management.
d. The cost of an entitys internal control should not exceed the benefits ex
pected to be derived.
3. Proper segregation of functional responsibilities calls for separation o
f the functions of
a. Authorization, execution, and payment.
a. Internal control may be ineffective due to mistakes in judgment and pers
onal carelessness.
b. Adequate safeguards over access to assets and records should permit an e
ntity to maintain proper accountability.
c. Establishing and maintaining internal control is an important responsibi
lity of management.
d. The cost of an entitys internal control should not exceed the benefits ex
pected to be derived.
3. Proper segregation of functional responsibilities calls for separation o
f the functions of
a. Authorization, execution, and payment.
a. Internal control may be ineffective due to mistakes in judgment and pers
onal carelessness.
b. Adequate safeguards over access to assets and records should permit an e
ntity to maintain proper accountability.
c. Establishing and maintaining internal control is an important responsibi
lity of management.
d. The cost of an entitys internal control should not exceed the benefits ex
pected to be derived.
3. Proper segregation of functional responsibilities calls for separation o
f the functions of
a. Authorization, execution, and payment.
a. Internal control may be ineffective due to mistakes in judgment and pers
onal carelessness.
b. Adequate safeguards over access to assets and records should permit an e
ntity to maintain proper accountability.
c. Establishing and maintaining internal control is an important responsibi
lity of management.
d. The cost of an entitys internal control should not exceed the benefits ex
pected to be derived.
3. Proper segregation of functional responsibilities calls for separation o
f the functions of
a. Authorization, execution, and payment.
a. Internal control may be ineffective due to mistakes in judgment and pers
onal carelessness.
b. Adequate safeguards over access to assets and records should permit an e
ntity to maintain proper accountability.
c. Establishing and maintaining internal control is an important responsibi
lity of management.
d. The cost of an entitys internal control should not exceed the benefits ex
pected to be derived.
3. Proper segregation of functional responsibilities calls for separation o
f the functions of
a. Authorization, execution, and payment.
a. Internal control may be ineffective due to mistakes in judgment and pers
onal carelessness.
b. Adequate safeguards over access to assets and records should permit an e
ntity to maintain proper accountability.
c. Establishing and maintaining internal control is an important responsibi
lity of management.
d. The cost of an entitys internal control should not exceed the benefits ex
pected to be derived.
3. Proper segregation of functional responsibilities calls for separation o
f the functions of
a. Authorization, execution, and payment.
a. Internal control may be ineffective due to mistakes in judgment and pers
onal carelessness.
b. Adequate safeguards over access to assets and records should permit an e
ntity to maintain proper accountability.
c. Establishing and maintaining internal control is an important responsibi
lity of management.
d. The cost of an entitys internal control should not exceed the benefits ex
pected to be derived.
3. Proper segregation of functional responsibilities calls for separation o
f the functions of
a. Authorization, execution, and payment.
a. Internal control may be ineffective due to mistakes in judgment and pers
onal carelessness.
b. Adequate safeguards over access to assets and records should permit an e
ntity to maintain proper accountability.
c. Establishing and maintaining internal control is an important responsibi
lity of management.
d. The cost of an entitys internal control should not exceed the benefits ex
pected to be derived.
3. Proper segregation of functional responsibilities calls for separation o
f the functions of
a. Authorization, execution, and payment.
a. Internal control may be ineffective due to mistakes in judgment and pers
onal carelessness.
b. Adequate safeguards over access to assets and records should permit an e
ntity to maintain proper accountability.
c. Establishing and maintaining internal control is an important responsibi
lity of management.
d. The cost of an entitys internal control should not exceed the benefits ex
pected to be derived.
3. Proper segregation of functional responsibilities calls for separation o
f the functions of
a. Authorization, execution, and payment.
a. Internal control may be ineffective due to mistakes in judgment and pers
onal carelessness.
b. Adequate safeguards over access to assets and records should permit an e
ntity to maintain proper accountability.
c. Establishing and maintaining internal control is an important responsibi
lity of management.
d. The cost of an entitys internal control should not exceed the benefits ex
pected to be derived.
3. Proper segregation of functional responsibilities calls for separation o
f the functions of
a. Authorization, execution, and payment.
a. Internal control may be ineffective due to mistakes in judgment and pers
onal carelessness.
b. Adequate safeguards over access to assets and records should permit an e
ntity to maintain proper accountability.
c. Establishing and maintaining internal control is an important responsibi
lity of management.
d. The cost of an entitys internal control should not exceed the benefits ex
pected to be derived.
3. Proper segregation of functional responsibilities calls for separation o
f the functions of
a. Authorization, execution, and payment.
a. Internal control may be ineffective due to mistakes in judgment and pers
onal carelessness.
b. Adequate safeguards over access to assets and records should permit an e
ntity to maintain proper accountability.
c. Establishing and maintaining internal control is an important responsibi
lity of management.
d. The cost of an entitys internal control should not exceed the benefits ex
pected to be derived.
3. Proper segregation of functional responsibilities calls for separation o
f the functions of
a. Authorization, execution, and payment.
a. Internal control may be ineffective due to mistakes in judgment and pers
onal carelessness.
b. Adequate safeguards over access to assets and records should permit an e
ntity to maintain proper accountability.
c. Establishing and maintaining internal control is an important responsibi
lity of management.
d. The cost of an entitys internal control should not exceed the benefits ex
pected to be derived.
3. Proper segregation of functional responsibilities calls for separation o
f the functions of
a. Authorization, execution, and payment.
a. Internal control may be ineffective due to mistakes in judgment and pers
onal carelessness.
b. Adequate safeguards over access to assets and records should permit an e
ntity to maintain proper accountability.
c. Establishing and maintaining internal control is an important responsibi
lity of management.
d. The cost of an entitys internal control should not exceed the benefits ex
pected to be derived.
3. Proper segregation of functional responsibilities calls for separation o
f the functions of
a. Authorization, execution, and payment.
a. Internal control may be ineffective due to mistakes in judgment and pers
onal carelessness.
b. Adequate safeguards over access to assets and records should permit an e
ntity to maintain proper accountability.
c. Establishing and maintaining internal control is an important responsibi
lity of management.
d. The cost of an entitys internal control should not exceed the benefits ex
pected to be derived.
3. Proper segregation of functional responsibilities calls for separation o
f the functions of
a. Authorization, execution, and payment.
a. Internal control may be ineffective due to mistakes in judgment and pers
onal carelessness.
b. Adequate safeguards over access to assets and records should permit an e
ntity to maintain proper accountability.
c. Establishing and maintaining internal control is an important responsibi
lity of management.
d. The cost of an entitys internal control should not exceed the benefits ex
pected to be derived.
3. Proper segregation of functional responsibilities calls for separation o
f the functions of
a. Authorization, execution, and payment.