Which of the Following Controls Most Likely Would Give the Greatest

question 653

Multiple Choice

Which of the following controls most likely would give the greatest assurance that securities held as investments are safeguarded?

• A) There is no access to securities between the year-end and the date of the auditor's security count.
• B) Proceeds from the sale of investments are received by an employee who does not have access to securities.
• C) Investment acquisitions are authorized by a member of the Board of Directors before execution.
• D) Access to securities requires the signatures and presence of two designated officials.

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Definitions:

Excessively Legal

Refers to a situation or approach heavily reliant on legal frameworks or actions, often to an extreme or unnecessary degree.

Job Satisfaction

A person's feeling of fulfillment or enjoyment that comes from their job, influenced by factors like work environment, role, and recognition.

Nonunionized Settings

Workplaces where employees are not represented by a labor union, often resulting in individual rather than collective bargaining with employers.

Unionized Settings

Workplaces or industries where employees are represented by unions to negotiate wages, working conditions, and benefits.