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