Student Name: Iris Little Due Date: October 22, 2017 (now due 10/31/2017) CHAPTER6 #1 An intermal control system consists of all policies and procedures used to protect assets ensure reliable accounting, promote efficier operations, and urge adherence to company policies. Evaluate each of the following statements and indicate which are true and which are false regarding the objectives of an internal control system Separation of recorckeeping for assets from the custody over assets is intended to reduce thet and traud -The primary objective of internal ontrol procedures is to safeguard the business against theft from govemment agencies The main objective of intemal control procedures is best Iraud, and thett Separating the responsblity for a transaction between two or more indviduals or paying the money to hersalt or himselt i accomplshed by designing 3 an operational system with managernial policies that protect the assets from waste 4 departments wil not help prevent someone from creating a ficttious invoice and