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True or False Question Whenever possible, responsibilities should be assigned, and duties subdivided in such a way that only one employee is responsible for a given function. One of the best protections against theft is to hire honest, competent employees. A foolproof internal control structure can be devised if management puts forth the effort. Those employees responsible for safeguarding an asset should maintain the accounting records for that asset. An internal auditing function should not be implemented because it leads the employees to believe that management does not trust them. Employees should be assigned to one job and should remain in that job so that skill levels will be as high as possible. The use of check protectors, cash registers, and time clocks is recommended. Complete, accurate, and up-to-date accounting records should be maintained. True or False Question True Whenever possible, responsibilities should be assigned, and duties subdivided in such a way that only one employee is responsible for a given function. True One of the best protections against theft is to hire honest, competent employees. False A foolproof internal control structure can be devised if management puts forth the effort. False Those employees responsible for safeguarding an asset should maintain the accounting records for that asset. False An internal auditing function should not be implemented because it leads the employees to believe that management does not trust them. False Employees should be assigned to one job and should remain in that job so that skill levels will be as high as possible. True The use of check protectors, cash registers, and time clocks is recommended. True Complete, accurate, and up-to-date accounting records should be maintained.