Which of the Following Statements Regarding the Authorization of General

question 52

Multiple Choice

Which of the following statements regarding the authorization of general ledger posting is NOT true?

• A)Posting to the general ledger always requires specific authorization.
• B)User IDs and passwords can serve as authorization to post transactions to the general ledger.
• C)A journal voucher serves as authorization for manual systems.
• D)As IT systems become more automated, the authorization of general ledger posting is moved to lower levels of employees.

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Definitions:

Capital Flight

The rapid movement of large sums of money or capital out of a country due to economic or political instability, affecting the country's financial health.

Microlending

The provision of small loans to entrepreneurs and small businesses lacking access to banking and related services.

Human Capital

The knowledge and skills that make a person productive.

Aggregate Demand

Aggregate demand represents the total demand for all goods and services within a country's economy at a given overall price level and in a given time period.