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5. A good system of internal controls requires that the physical custody of assets be separated from the accounting for those assets. This concept is known as safeguarding assets and records. (Points : 5) True False
A good system of internal controls requires that the physical custody of assets be separated from the accounting for those assets. This concept is known as safeguarding assets and records. This is False.
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Asked 3/7/2014 6:52:11 PM
Updated 12/16/2014 12:28:23 PM
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A good system of internal controls requires that the physical custody of assets be separated from the accounting for those assets. This concept is known as safeguarding assets and records. This is False.

Added 12/16/2014 12:28:23 PM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [12/16/2014 12:45:42 PM]
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