ACC 556 STR help A Guide to career/uophelp.com ACC 556 STR help A Guide to career/uophelp.com | Page 20

ACC 556 Chapter 7 Quiz (100% Score) For more course tutorials visit www.uophelp.com Chapter 7 Quiz Question 1 The most important element of the fraud triangle is rationalization. Question 2 Requiring employees to take vacations is a weakness in the system of internal controls because it does not promote operational efficiency. Question 3 Under an effective system of internal control, errors occur only as a result of fraud or dishonesty. Question 4 Control over cash disbursements is improved if major expenditures are paid by check. Question 5 Cash equivalents are highly liquid investments that can be converted into a specific amount of cash. Question 6