Governmental Universities Typically Report as

question 39

Multiple Choice

Governmental universities typically report as

• A) General purpose governments.
• B) Special-purpose governments engaged in only business-type activities.
• C) Special-purpose governments engaged in only governmental activities.
• D) Private sector entities.

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Definitions:

Segregation of Duties

An internal control mechanism designed to reduce the risk of error or fraud by dividing responsibilities among different people in an organization.

Cheque Signer

An authorized individual within an organization who has been given the authority to sign checks on behalf of the company.

Misappropriate

The act of taking something dishonestly for one's own use, particularly with reference to funds.

Electronic Funds Transfers

Electronic Funds Transfers (EFT) are the digital exchange of money from one bank account to another, either within a single financial institution or across multiple institutions, through computer-based systems.