Keeping Marketable Securities and Cash in a Fireproof Vault Is

question 54

Multiple Choice

Keeping marketable securities and cash in a fireproof vault is an example of which type of accounting procedure?

• A) Physical control over records
• B) Adequate documents and records
• C) Proper procedures for authorization
• D) Segregation of duties

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Definitions:

Financial Consultant

A professional who provides expert advice on managing finances, including investments, taxes, retirement planning, and insurance.

Sense of Well-being

A feeling of health, happiness, and prosperity, often considered as a holistic understanding of one’s physical, psychological, and social health.

Financial Strain

A condition of experiencing stress due to inadequate financial resources or difficulties in managing financial obligations.

Financially Independent

The state of having sufficient personal wealth to live, without having to work actively for basic necessities.