Indicate whether each of the following statements regarding internal controls is true (T) or false (F). (7 points) F F To maximize efficiency and to reduce costs, the same person may perform all of the following functions: authorization of transactions, recording of transactions, and custody of the associated assets. T Under proper internal controls, those who are given authority should bear the corresponding responsibility. [Choose Under proper internal controls, the person who prepares weekly payroll checks should have the ability to authorize a pay increase for an employee. A fundamental internal control is to require employees to take vacation time off and to participate in job rotation. [Choose A fidelity bond is a form of insurance that companies buy to protect the company from [Choose demolevo dichonachy