Which One of the Following Functions Performed in an Organization

question 6

Multiple Choice

Which one of the following functions performed in an organization is a violation of internal control?

• A)A mail clerk opening the mail compares the cheque received with the source document accompanying the payment, noting the amount paid, then forwards the cheques daily along with a listing of the cash receipts)to the Cashier for deposit
• B)A mail clerk opening the mail compares the cheque received with the source document accompanying the payment, noting the amount paid, then forwards the source documents that accompany the payments along with a listing of the cash receipts)to Accounts Receivable, on a daily basis, for posting to the subsidiary ledger
• C)At the end of the week the Cashier prepares a deposit slip for all of the cash receipts received during the week
• D)The General Ledger clerk compares the summary journal entry, received from the Cashier for cash receipts applicable to outstanding accounts, with the batch total for posting to the Subsidiary Ledger by the Accounts Receivable clerk

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Definitions:

Producer Surplus

The variance between the amount sellers are ready to accept for a commodity or service and what they actually earn from it.

World Market

The international exchange of goods and services that transcends national borders, influenced by global supply and demand.

International Trade

The international trade involving the transfer of goods and services between countries or territories.

Employee Assistance Plans

Programs offered by employers to help employees deal with personal problems that might adversely affect their work performance, health, and well-being.