Which of the Following Controls Would Be Most Effective in Ensuring

question 63

Multiple Choice

Which of the following controls would be most effective in ensuring that the proper custody of assets in the investing cycle is maintained?

• A)Direct access to securities in the safety deposit box is limited to only one corporate officer.
• B)Personnel who post investment transactions to the general ledger are not permitted to update the investment subsidiary ledger.
• C)The purchase and sale of investments are executed on the specific authorization of the board of directors.
• D)Independent personnel periodically compare the recorded balances in the investment subsidiary ledger with the contents of the safety deposit box.

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Definitions:

Standardized Vocabulary

A consistent set of terms and definitions used in a specific field to ensure clear communication and understanding.

ANA

Anti-nuclear antibodies, which are autoantibodies that bind to certain structures within the nucleus of the cell, often tested for in autoimmune disorders.

Acuity

The level of severity or intensity of an illness or the sharpness of sensory perception, often determining the degree of care required.

Level of Urgency

A classification that determines the priority of medical care based on the severity and immediacy of a patient's condition.