Mailing Disbursement Checks and Remittance Advices Should Be Controlled by the Employee

question 523

Multiple Choice

Mailing disbursement checks and remittance advices should be controlled by the employee who:

• A) Approves the vouchers for payment.
• B) Matches the receiving reports, purchase orders, and vendor's invoices.
• C) Maintains possession of the mechanical check-signing device.
• D) Signs the checks last.

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Definitions:

Tying Arrangement

A commercial strategy where a seller requires a buyer to purchase a secondary product as a condition of buying a desired primary product.

Sherman Act

A landmark federal statute in the scope of U.S. antitrust law passed by Congress in 1890, which prohibits monopolistic practices and promotes competition.

Per Se Violation

An act that is inherently illegal, without the need for further evidence to prove its unlawfulness.

Economic Harm

Financial damage or loss experienced by an individual or entity due to another party's actions or events.