There Are Three Simple Procedures That Small Business Owners Should

question 23

Multiple Choice

There are three simple procedures that small business owners should do on a timely basis to prevent fraud when they can't afford sufficient employees to guarantee effective segregation of duties. Which of the following is NOT one among them?

• A) Pay everything by check so that there is a record.
• B) Always open the bank statement and reconcile it themselves.
• C) Allow one key employee to operate the bank account personally.
• D) Sign every check themselves and not delegate the signing to anyone else.

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Definitions:

Fast-Track

A process or program designed to speed up employee development or career advancement, often by providing intensive training and opportunities.

Vice-President

A high-ranking executive officer in a company or organization, typically ranking just below the president and often responsible for a specific department or division.

Discriminatory

Behaviors or practices that unfairly single out individuals or groups for differential treatment based on factors such as race, gender, age, or sexual orientation.

Ethical Situation

Involves scenarios or decisions in the workplace that require consideration of ethical principles and standards.