The Principle of Establishing Responsibility Does Not Include

question 215

Multiple Choice

The principle of establishing responsibility does not include

• A) one person being responsible for one task.
• B) authorization of transactions.
• C) independent internal verification.
• D) approval of transactions.

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Definitions:

Days Past Due

The number of days that have elapsed since a payment or obligation was due.

Time Limit

A specific period within which something needs to be completed or achieved.

Specific Debt

The amount of debt (financial obligation) an entity owes relative to its income or revenue.

One Charge

Typically refers to a single financial cost or fee for a service or product.