Which of the Following Would Be the Best Protection for a Company

question 60

Multiple Choice

Which of the following would be the best protection for a company that wishes to prevent the "lapping" of trade accounts receivable?

• A)Separate duties so that the bookkeeper in charge of the general ledger has no access to incoming mail.
• B)Separate duties so that no employee has access to both checks from customers and currency from daily cash receipts.
• C)Have customers send payments directly to the company's depository bank.
• D)Request that customer's payment checks be made payable to the company and addressed to the treasurer.

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Definitions:

Lobbyist Defined

A person who engages in attempts to influence legislators or public officials on behalf of a specific interest or group.

Advisory Assistance

Guidance or recommendations provided to support decision-making processes, often offered by experts or consultants in a specific field.

Legislative Committees

Specialized groups within a legislature that handle specific areas of legislation, such as finance or health.

Enthusiasm Gap

The difference in intensity of support or interest among supporters of different political candidates or parties, often impacting voter turnout and election outcomes.