1. Using a preprogrammed system logic, granting of credit approval may be automated and this would not violate any segregation of duties. (TRUE OR FALSE)

2. The controller's office is responsible for the daily cash deposit to the bank for all cash receipts and for keeping track of cash records. (TRUE OR FALSE)

3. Checking of credit limit must be done by

a. Sales personnel, since he/she received the order from the customer, she must be efficient by checking the customer's credit limit too. b. An automated system, hence, all companies, big or small, must avail of automated system in checking credit limit. c. By personnel from the credit check function, separately from the receive sales function d. The Sales manager because approval matrix must always include managerial positions.