The Most Important Type of Protective Measure for Safeguarding Assets

question 78

Multiple Choice

The most important type of protective measure for safeguarding assets and records is:

• A) proper authorisation of transactions.
• B) adequate separation of duties among personnel.
• C) the use of physical precautions.
• D) adequate documentation.

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Definitions:

Social Security Surplus

Occurs when the income from Social Security contributions exceeds the payouts to beneficiaries.

Old Age

A life stage characterized by advanced age, usually associated with retirement from active employment and the onset of age-related health issues.

Survivors Insurance

A form of social security benefit that provides financial support to the family members or dependents of a deceased worker.

Intergenerational Income Transfer

Financial assets or wealth transferred from one generation to another, impacting the economic stability and opportunities of the recipient generation.