A Certain IT Company Has a Legal Services Department Which

question 50

Multiple Choice

A certain IT company has a legal services department which is responsible for providing timely assistance and advice on matters relating to contracts, liability, governance, and regulations. Which of the following types of authority do the legal advisors within this organization possess?

• A) line authority
• B) functional authority
• C) staff authority
• D) traditional authority
• E) informal authority

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Definitions:

Bank Reconciliation

Bank reconciliation is the process of comparing and matching figures from the accounting records against those shown on a bank statement to ensure they are in agreement.

NSF Check

A check that cannot be processed because the account it's drawn on does not have sufficient funds.

Outstanding Checks

Checks that have been written and recorded in the paying entity's accounting system but have not yet been cashed or cleared by the bank.

Purchase Requisitions

Purchase requisitions are formal requests made within an organization to purchase goods or services, typically before a purchase order is created and allocated the necessary budget.