An Accounts Payable Clerk Also Has Cheque Signing Authority

question 112

Multiple Choice

An accounts payable clerk also has cheque signing authority.Which control procedure is violated?

• A)authorization of transactions and activities
• B)independent checks of performance
• C)documentation
• D)segregation of duties

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Definitions:

Production Possibility Frontier

A curve depicting the maximum attainable combinations of two products that may be produced with available resources and technology.

Good X

Often refers to a specific product or commodity being analyzed or discussed in economic models.

Good Y

A generic term used in economic models to represent a particular product or service in the market.

Production Possibility Frontier

A curve depicting all maximum output possibilities for two goods, given a set amount of inputs, highlighting concepts of opportunity cost, efficiency, and trade-offs.