Which of the Following Is the Best Way to Compensate

question 23

Multiple Choice

Which of the following is the best way to compensate for the lack of adequate segregation of duties in a small organization?

• A)Disclosing lack of segregation of duties to the external auditors during the annual review.
• B)Replacing personnel every three or four years.
• C)Requiring accountants to pass a yearly background check.
• D)Allowing for greater management oversight of incompatible activities.

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Definitions:

Categorical Grants

Federal funds provided to states and localities, earmarked for specific, narrowly defined purposes, usually with conditions attached.

Unfunded Mandates

Regulations or requirements imposed by higher levels of government without providing corresponding funds to cover the costs.

Block Grants

Funds provided by the federal government to state and local governments to support broad purposes with relatively few restrictions on how they are spent.

Cooperative Federalism

A concept of federalism in which national, state, and local governments interact cooperatively and collectively to solve common problems.