The Security of Assets and Documents Related to Cash Disbursements

question 91

Multiple Choice

The security of assets and documents related to cash disbursements would include all of the following, except:

• A)Access to cash should be limited to the authorized check signers.
• B)Physical controls should be in place where the cash is retained and disbursed.
• C)Access to records should be limited to persons with the authority to sign checks.
• D)The company's stock of unused checks should be protected and controlled.

Identify primary causes of time lost to tardiness and absenteeism and strategies to mitigate these issues.

Understand the importance of error prevention over detection in quality control processes.

Define productivity and recognize activities that improve quality and productivity.

Understand the limitations and scope of quality-control programs in detecting defects.

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Definitions:

Planned Results

The expected outcomes or goals that a business aims to achieve as outlined in its planning processes.

Corrective Action

Steps taken to identify and correct the root causes of problems to prevent their recurrence.

Budgeted

Pertains to the financial plans or forecasts for future revenue, expenses, or other financial metrics over a specific period.

Actual Sales

The monetary value of goods and services sold by a company during a specific accounting period, as recorded in financial statements.