The Control Principle Related to Not Having the Same Person

question 33

Multiple Choice

The control principle related to not having the same person authorize and pay for goods is known as

• A) establishment of responsibility.
• B) independent internal verification.
• C) segregation of duties.
• D) rotation of duties.

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Definitions:

Make Delivery

The process of fulfilling an order by providing the promised product or service to the buyer.

Accept Payment

The act of receiving money or other forms of payment in exchange for goods or services provided.

Risk Profile

An evaluation of an individual's or organization's willingness to take risks, as well as the threats to which they are exposed.

Steel Prices

The cost per unit weight of steel, which can vary based on factors like demand, supply, input costs, and economic conditions.