The Three Types of Functions That Normally Should Be Segregated

question 40

Multiple Choice

The three types of functions that normally should be segregated to promote internal control are

• A) recording transactions, authorizing transactions, and approval.
• B) authorizing transactions, approving transactions, and custody of assets.
• C) authorizing transactions, recording transactions, and custody of assets.
• D) authorizing transactions, inputting data, and outputting data.

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Definitions:

Double approach-avoidance Conflict

A psychological conflict that occurs when a person faces a choice between two options, each having both appealing and negative aspects.

Uplifts

Positive experiences or occurrences that can improve one's mood and counterbalance stress, enhancing overall well-being.

Hassles

Minor everyday annoyances or problems that, cumulatively, can contribute to stress and affect well-being.

Downturns

Periods or phases characterized by economic decline, reduced activity, or diminished performance.