Which of the Following Should Sign Checks Under Conditions of Effective

question 101

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:

Cash

A form of liquid asset that includes physical currency such as banknotes and coins, and demand deposits that can be quickly converted into physical cash.

Incremental Value

The additional or extra value generated by undertaking a new project, making an investment, or initiating a new action.

Equity-Financed

A method of raising capital through the sale of shares in the company, leading to shareholder ownership.

Firm A

A placeholder name often used to refer to a specific company in examples or case studies.