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True or False Question 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. Employees should be assigned to one job and should remain in that job so that skill levels will be as high as possible. Complete, accurate, and up-to-date accounting records should be maintained. An internal auditing function should not be implemented because it leads the employees to believe that management does not trust them. 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. The use of check protectors, cash registers, and time clocks is recommended. True or False Question 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 Employees should be assigned to one job and should remain in that job so that skill levels will be as high as possible. True Complete, accurate, and up-to-date accounting records should be maintained. False An internal auditing function should not be implemented because it leads the employees to believe that management does not trust them. 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. True The use of check protectors, cash registers, and time clocks is recommended.