Which of the Following Procedures Can Help Prevent and Detect

question 24

Multiple Choice

Which of the following procedures can help prevent and detect the theft and conversion of outgoing company checks?

• A) Train employees to look for dual endorsements on canceled checks.
• B) Chart the date of mailing for every outgoing check.
• C) Track changes made to vendor records.
• D) All of the above

---

Definitions:

Functional Currency

The primary currency of the main economic environment in which an entity operates.

Asset And Liability Account Balances

The respective values of a company's current and non-current assets, and its current and long-term liabilities at a point in time.

Local Currency

Refers to the legal tender or official currency that is used within a country's borders.