Which of the Following Statements Is Correct

question 158

Multiple Choice

Which of the following statements is correct?

• A)Due to its liquid nature, cash is the easiest asset to steal.
• B)A good system of internal control will ensure that employees will not be able to steal cash.
• C)It takes two or more employees working together to be able to steal cash.
• D)All of these answer choices are correct.

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Definitions:

Assignment Of Responsibility

The allocation of duties or tasks to individuals or teams within an organization to ensure accountability and efficiency.

Review And Reconciliation

The process of comparing two sets of records to ensure figures are accurate and in agreement, used to detect inconsistencies or errors in financial documents.

Electronic Funds Transfer

The digital transfer of money from one bank account to another, either within a single financial institution or across multiple institutions, via computer-based systems.