The Custodian of a Company Asset Should

question 169

Multiple Choice

The custodian of a company asset should

• A) have access to the accounting records for that asset.
• B) be someone outside the company.
• C) not have access to the accounting records for that asset.
• D) be an accountant.

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Definitions:

Acquired or Lifelong

Terms describing whether a condition or trait was developed over time (acquired) or present from birth (lifelong).

Situational or Generalized

Refers to conditions or responses that can be either specific to a particular context (situational) or widespread across various contexts (generalized).

Explicit or Implicit

Refers to information or attitudes that are fully and clearly expressed or demonstrated versus those that are not directly expressed but understood through implications.

Cognitive-behavioral

A therapeutic approach that focuses on identifying and restructuring negative thought patterns and behaviors to treat various mental health issues.