Sam's Grocery Store Has the Following Policy

question 162

Multiple Choice

Sam's Grocery Store has the following policy.'Only one cashier can have access to a cash drawer.' Which internal control principle supports this policy?

• A)Documentation procedures.
• B)Segregation of duties.
• C)Physical controls.
• D)Establishment of responsibilities.

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Definitions:

Voting Stock

Stocks that provide the holder with voting privileges regarding corporate policies and electing the board members.

Cash Dividend

A distribution of a company's earnings to its shareholders in the form of cash.

Passive Investment

An investment strategy involving minimal buying and selling actions, typically focused on long-term gains and avoiding frequent trading.

Common Stock

A type of security that represents ownership in a corporation and grants shareholders voting rights and a share in the company's profits through dividends.