In Following Proper Segregation of Duties, Those Who Handle Cash

question 40

Multiple Choice

In following proper segregation of duties, those who handle cash should not be granted any of the following authorities EXCEPT:

• A)Information systems programming
• B)Access to the company's accounting records
• C)Authorization to reconcile the company bank account
• D)Inventory management duties

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Definitions:

Insurance Policy

A contract between an individual or entity and an insurance company, outlining the terms for premium payment in exchange for risk coverage.

Assignment

The process of handing over rights, assets, or responsibilities from one entity to another.

Delegation

The act of assigning responsibility or authority from one person or entity to another, typically from a higher to a lower authority.

Obligation

A legal or moral duty to do something or to abstain from doing something.