Which One of the Following Is Not a Control Activity

question 70

Multiple Choice

Which one of the following is not a control activity implemented in most accounting systems?

• A)Segregation of duties.
• B)Competent,trustworthy employees.
• C)Authorization procedures.
• D)All of these activities are normally implemented.

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Definitions:

Phantom Tickets

Tickets for an event that are sold but are either nonexistent or vastly oversold, often associated with fraudulent or speculative selling practices.

Minimum Price

The lowest legal price at which a good or service can be sold, often set to ensure producers can cover their costs.

Total Producer Surplus

The difference between the total revenue that producers receive and the minimum amount they would be willing to accept for their goods or services.

Producer Surplus

The difference between the amount producers are willing to sell a good for and the actual amount they receive due to market price.