Segregation of Duties Means That a Company Assigns Responsibilities So

question 51

Multiple Choice

Segregation of duties means that a company assigns responsibilities so that:

• A)sufficient workers are available to cover all necessary jobs.
• B)responsibilities for related activities are assigned to two or more people.
• C)employees are restricted to jobs for which they have adequate training.
• D)workers are divided into those who make decisions and those who carry them out.

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Definitions:

Adjusting Entries

Entries compiled at the termination of an accounting interval aiming to apportion income and expenditure to their rightful temporal occurrence.

Trial Balance

A financial spreadsheet where the totals of all ledger balances are gathered into columns for debits and credits, ensuring these totals match.

T Accounts

A visual representation of accounts used in double-entry bookkeeping, showing debits on the left and credits on the right.

Ending Figure

The ending figure represents the final amount or value of an account or calculation at the conclusion of a specified period.