To Maintain an Adequate Separation of Duties,various Functions Within the Customer

question 85

Multiple Choice

To maintain an adequate separation of duties,various functions within the customer order process should be independent of each other.An example of this is

• A) that billing does not have access to the accounts receivable ledger.
• B) that shipping only accepts goods from finished goods that are identified on an independently prepared packing list.
• C) Answers A and B are both correct.
• D) None of these answers is correct.

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Definitions:

U.S. Senate

One of the two chambers of the United States Congress, responsible for making and passing federal laws, where each state is represented by two senators.

Money Supply

The total quantity of money available in the economy at a specific time, including currency, coins, and balances held in checking and savings accounts.

Currency

A system of money in common use, especially in a nation, for facilitating the exchange of goods and services.

Excess Reserves

The capital reserves held by a bank or financial institution in excess of what is required by regulators, providing a cushion against potential financial instability or liquidity needs.