Falk Noam Is the Internal Auditor for Matan Incorporated

question 51

Multiple Choice

Falk Noam is the internal auditor for Matan Incorporated.Before investigating the HRM / payroll cycle at Matan,Falk decided to read up on the proper segregation of duties regarding payroll disbursement processes.For strongest segregation of duties,the ________ should distribute paychecks.

• A)accounts payable department
• B)cashier
• C)internal audit department
• D)external auditor

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Definitions:

Chapter 11 Reorganization

Chapter 11 Reorganization refers to a provision under the U.S. bankruptcy code that allows a business to restructure its debt and operations in order to return to profitability under court supervision while continuing to operate.

Stockbrokers

Professionals who buy and sell stocks and other securities on behalf of clients, usually for a fee or commission.

Corporate Debtors

Businesses that owe money to creditors and are responsible for repaying debt.

Reaffirmation Agreement

A legal document filed in bankruptcy proceedings where the debtor agrees to repay a portion or all of an outstanding debt.