Persons Who Authorize Transactions Should Not Handle the Related Asset

question 39

Multiple Choice

Persons who authorize transactions should not handle the related asset. This is an example of which characteristic of internal control?

• A)competent, reliable, and ethical personnel
• B)assignment of responsibilities
• C)proper authorization
• D)separation of duties

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Definitions:

Discriminating Firms

Companies that differentiate among customers, employees, or others based on certain criteria, often leading to unfair treatment.

Maximize Profits

The process or strategy where a business aims to achieve the highest possible profit margin within its operation, considering constraints and market conditions.

Discriminatory Wage Differentials

Pay differences that do not reflect differences in skills, responsibilities, or performance but rather discrimination based on race, gender, or other non-performance-related factors.

Black Baseball Players

Athletes of African descent who have participated professionally in baseball leagues, highlighting their contribution to the sport's history.