An Accounts Payable Clerk Also Has Cheque Signing Authority

question 80

Multiple Choice

An accounts payable clerk also has cheque signing authority.Which control procedure is violated?

• A)assignment of responsibility
• B)review and reconciliation
• C)documentation
• D)segregation of duties

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Definitions:

C$

A symbol often used to denote the Canadian dollar, the currency of Canada.

Euro

The official currency of the eurozone, which consists of 19 of the 27 European Union member states.

Exchange Rate

The price or value of one currency in terms of another, determining how much of one currency can be exchanged for another.

Litre

A metric unit of volume equal to 1000 cubic centimeters or approximately 0.26 US gallons, commonly used to measure fluids.