Which of the Following Would Represent Proper Segregation of Duties

question 39

Multiple Choice

Which of the following would represent proper segregation of duties?

• A)The employee who has custody of cash also does accounts receivable record keeping.
• B)The employee who has custody of cash completes the bank reconciliation.
• C)The employee who opens mail containing checks prepares a list of checks received.
• D)The employee who opens mail containing checks records transactions in the general ledger.

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Definitions:

Hourly Labour Cost

The total expense for an employer of paying hourly wages to employees, including benefits and taxes.

Profit Margin

A financial metric that calculates the amount of net income generated as a percentage of revenues.

Objective Function

A mathematical function used in decision-making processes, often in optimization and linear programming, representing the goal to be achieved, such as minimizing costs or maximizing profits.

Contribution Margin

The amount of revenue remaining after subtracting the variable costs of producing a product, serving as an indicator of the product's profitability.