Duties in the Expenditure Cycle Should Be Properly Segregated to Promote

question 75

Multiple Choice

Duties in the expenditure cycle should be properly segregated to promote internal control.This means that the authorization function is performed by ________,the recording function is performed by ________,and cash handling is performed by the ________.

• A) accounts payable; purchasing; cashier
• B) purchasing; accounts payable; cashier
• C) purchasing; cashier; accounts payable
• D) purchasing; accounts payable; treasurer

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Definitions:

Probate Court

A specialized court that deals with matters pertaining to wills, estates, conservatorships, and guardianships.

Decedent's Estate

All the assets and liabilities left behind by a person who has passed away.

Administrator

An individual appointed by a court to manage and settle the estate of a deceased person who has left no will.

Died Without A Will

A situation in which a person passes away without leaving a legal document specifying how their assets should be distributed.