Indicate which of the following items limit the effectiveness of internal control systems.

a. Collusion

b. Segregation of duties

c. Cost/benefit considerations

d. Human error

e. External audits

f. Documentation procedures

g. Security systems

h. Management override

(2) NSF cheques received are accounted for by adding them to the cash balance per books.

True

False

(3) When the cash account has a credit balance in the general ledger, it is reported as a non-current liability.

True

False

(4)