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

Prepare necessary journal entries for payroll adjustments.

Calculate and adjust for supplies and insurance expense adjustments.

Prepare and understand the adjusted trial balance.

Understand and apply methods for accounting for unearned and earned revenues.

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Definitions:

Personality Theory

An attempt to describe and explain how people are different and what makes each individual's personality unique.

Traits Consistency

The degree to which individual personality traits remain stable and consistent across different situations and over time.

Control Belief

The perception of the extent to which one has power over their own environment and outcomes.

Pessimistic

Characterized by a tendency to see the worst aspect of things or believe that the worst will happen.