Three Key Duties That Must Always Be Separated Under a Good

question 81

Multiple Choice

Three key duties that must always be separated under a good system of internal controls are:

• A)asset handling,record keeping and transaction approval.
• B)asset handling,hiring and safeguarding of assets.
• C)asset handling,recordkeeping and safeguarding of assets.
• D)record keeping,transaction analysis and transaction approval.

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Definitions:

Modest Growth

An economic situation characterized by slow but steady increase in the size or value of something.

Cash Cow

A business, product, or asset that consistently generates significant amounts of cash flow, often requiring little investment to maintain.

High Market Share

A situation where a company or product has a higher percentage of total sales revenue of a market compared to its competitors.

Low-Growth Market

A market characterized by slow increases in demand or sales over time.