Which of the Following Duties Could Be Performed by the Same

question 1

Multiple Choice

Which of the following duties could be performed by the same individual and not violate segregation of duty controls?

• A)handling cash and posting to customer accounts
• B)issuing credit memos and maintaining customer accounts
• C)handling cash and authorizing credit memos
• D)handling cash receipts and mailing vendor payments

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Definitions:

Labor Employment

The act of engaging individuals to perform tasks for wages or salary.

Change in Output

This refers to the variation in the quantity of goods or services produced by a company or economy over a certain period.

Law of Diminishing Returns

An economic principle stating that if one input in the production of a product is increased while other inputs are held constant, a point will eventually be reached at which additions of the input yield progressively smaller, or diminishing, increases in output.

Marginal Returns

The additional output gained by adding one more unit of a specific input, assuming all other inputs remain constant.