Which of the Following Should Sign Checks Under Conditions of Effective

question 19

Multiple Choice

Which of the following should sign checks under conditions of effective internal control?

• A)Treasurer
• B)Purchasing agent
• C)Accounts payable clerk
• D)Person preparing the checks

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Definitions:

Minimum Wage

The lowest legal hourly pay rate that employers can pay their workers.

Binding Price Floor

A minimum price set by the government above the equilibrium price, causing a surplus.

Minimum Wage

The lowest hourly, daily, or monthly remuneration that employers are legally allowed to pay their workers.

Market-Clearing

Market-Clearing is the process by which market supply and demand are brought into balance at the equilibrium price, ensuring all goods produced are sold.