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:

Increase Traffic

Refers to the actions and strategies deployed to attract more visitors or users to a website, online platform, or physical location.

Parking Rates

The fees charged for the use of parking spaces, often varying based on location, time, and demand.

MR

Marginal Revenue, which is the additional income generated from selling one more unit of a good or service.

MC

An abbreviation for Marginal Cost, referring to the expense associated with producing an additional unit of output.