Answer the following statements true (T) or false (F)

1. A system cannot be overcome or broken into if its internal controls are properly designed and structured.
2. It is difficult and costly to plan controls that can prevent collusion.
3. Strict internal controls must be implemented, regardless of the cost.
4. Internal controls must always be judged in light of their costs versus their benefits.
5. Collusion involves two or more people working together to circumvent internal controls and defraud a company.


1. FALSE
2. TRUE
3. FALSE
4. TRUE
5. TRUE

Business

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