Segregation of Duties Controls Dictates That the Collection and Recording

question 50

Multiple Choice

Segregation of duties controls dictates that the collection and recording functions be kept separate from each other.However,the accounts receivable department needs to know when customers pay their invoices.What is a solution to this potential internal control problem?

• A)Establish a lockbox arrangement with a bank.
• B)Have customers send a remittance advice with their payment.
• C)Have mailroom personnel prepare a remittance list which can be forwarded to accounts receivable.
• D)all of the above

Comprehend the process and implications of presidential appointments and amnesty decisions.

Grasp the relationship and balance of power between the presidency, Congress, and the Judiciary.

Appreciate the importance and function of the Cabinet and the Executive Office of the President.

Recognize the scope and limitations of the president's power to use military force both domestically and internationally.

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Definitions:

Risk Management

A process that identifies, controls, and minimizes the impact of threats, in an effort to reduce risk to manageable levels.

Controls

Measures implemented to regulate processes, systems, or environments, ensuring that activities are conducted in a consistent and secure manner.

Networks

Collections of computers, servers, mainframes, network devices, peripherals, or other devices connected to one another to allow the sharing of data.

Privilege

A collection of related computer system operations that can be performed by users of the system.