Answer the following questions as True or False

1. Good Internal control procedures include restricting access of systems specialists to software programs but providing unrestricted access to computer programmers.
   Select an answer True False
2. Good internal control procedures include controlling computer access by placing the computer in an unsecured room but allowing only authorized personnel to enter and operate the room.
   Select an answer True False
3. Risk assessment involves examining the risks associated with each objective allowing management to develop the means to control these risks.
   Select an answer True False
4. Good internal control procedures include using passwords to access sensitive company data.
   Select an answer True False
5. According to the Committee of Sponsoring Organizations of the Treadway Commission, there are four elements of an internal control structure.
   Select an answer True False
6. The control environment is the basis for all other elements of the internal control structure.
   Select an answer True False
7. The Board of Directors hold ultimate responsibility for establishing and maintaining an effective internal control structure.
   Select an answer True False
8. Computerized financial records require the same internal control principles of separation of duties and control over access as a manual accounting system.
   Select an answer True False