Which of the Following Is Not an Example of Incompatible

question 91

Multiple Choice

Which of the following is not an example of incompatible duties?

• A) the authorized check signer prepares the bank reconciliation.
• B) the individual who prepares the bank deposit also takes it to the bank.
• C) the individual who approves the vouchers signs and mails the checks.
• D) the warehouse manager maintains the perpetual inventory records.
• E) the individual who processes cash remittances from customers also has authority to approve and record credits to customers' accounts for sales returns and allowances or write-offs.

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Definitions:

Goods And Services

The products and activities that satisfy human wants or needs, goods being tangible items and services being intangible.

Barter

A system of exchange where goods or services are traded directly for other goods and services without the use of money.

Commodity Money

Commodity Money is a type of currency in which the value comes from a commodity of which it is made, such as gold or silver coins.

Largely Self-Sufficient

Describes an entity or community that can fulfill nearly all of its needs without external assistance.