Proper Separation of Duties Reduces the Opportunities to Allow Persons

question 4

Multiple Choice

Proper separation of duties reduces the opportunities to allow persons to be in positions to both:

• A)journalize entries and prepare financial statements.
• B)record cash receipts and cash disbursements.
• C)establish internal controls and authorize transactions.
• D)perpetrate a fraud and then conceal it in the books.

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Definitions:

Marketing Mix

A combination of factors that can be controlled by a company to influence consumers to purchase its products, typically summarized as product, price, place, and promotion.

Profitability Numbers

Financial metrics used to assess the degree to which a company generates profit from its operations.

Profitability

The financial gain made by a business, calculated as total revenues minus total costs.

Advertising

is a marketing communication that employs an openly sponsored, non-personal message to promote or sell a product, service, or idea.