66.An example of an internal control weakness is assigning to a department supervisor the responsibility for:

a. Reviewing and approving time reports for subordinate employees

b. Initiating requests for salary adjustment for subordinate employees

c.Authorizing payroll checks for terminated employees

d.Distributing payroll checks to terminated employees

67. A strong system of internal control in an organization places primary emphasis upon the concept that

a. No one person should handle all phases of a transaction

b. All employees having access to negotiable assets should have fidelity bonds

c. Audits should be done annually by certified public accountants

d. Management functions should be extensively decentralized

68. A material internal control weakness is a situation that allows irregularities to escape timely detection by

a. Normal audit

b. A controller when reconciling the general ledger

c. Employees in the normal performance of their assigned duties

d. The chief financial officer when reviewing interim financial statements