Reference no: EM132731486

Problem 1: Which of the following is NOT a significant feature of a system of internal control over cash?

Select one:

a. Two staff members should sign cheques

b. The staff member responsible for approving invoices for payment should sign cheques

c. The person who does bank reconciliations should not be the cashier

d. Bank reconciliation statements are prepared at regular intervals

Problem 2: In terms of an effective internal control system, the practice of issuing identification cards to employees assists:

Select one:

a. separation of duties

b. physical protection of sensitive assets

c. maintenance of effective records

d. clear establishment of responsibility lines