What Control Should Be Put in Place That Assigns Responsibility

question 21

Multiple Choice

What control should be put in place that assigns responsibility for EFT payments made to vendors?

• A)Encrypt all EFT transmissions.
• B)Time stamp all EFT transactions.
• C)Establish a control group to monitor EFT transactions for validity and accuracy.
• D)Number all EFT transactions.

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Definitions:

Anticompetitive Practices

Business actions that reduce or prevent competition in a market, often scrutinized under competition laws.

FDCPA

The Fair Debt Collection Practices Act, U.S. legislation aimed at promoting fair debt collection and providing guidelines for the conduct of debt collectors.

Collector

An individual or entity that gathers items of a particular type, often for personal interest or investment purposes, or in financial contexts, one who collects payments.

Misleading Claims

Statements or representations that are false or deceptive, usually made to entice customers or influence stakeholders.