If an Employee Who Has Access to the Custody of Assets

question 39

Multiple Choice

If an employee who has access to the custody of assets steals a cash remittance and covers the theft by recording a bad-debt write off, there was likely a failure in the category of __________.

• A)segregation of duties
• B)performance reviews
• C)authorization control
• D)physical controls

Calculate net pay after all applicable withholdings.

Recognize the roles of different types of banks in the context of federal deposits.

Define and compute an employer's unemployment taxes, including FUTA and SUTA.

Understand the concept of estimated liabilities and identify common types.

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Definitions:

Lines of Descent

Lines of descent refer to the direct line of ancestry tracing the genetic heritage of an organism.

Eroding Hillsides

Areas where the surface soil has been worn away, often due to water, wind, or human activity, leading to a loss of stability and vegetation.

Shallow Sea

A part of the sea that is not deep, often found near coastlines, where sunlight can reach the seabed, supporting various marine life.

Capacity

The maximum amount that something can contain or produce, or the ability to perform, understand, or absorb something.