If the Treasury and Controller Functions Are Independent,which of the Following

question 7

Multiple Choice

If the treasury and controller functions are independent,which of the following should be assigned to the controller to maintain effective control?

• A) Approval of disbursements
• B) Responsibility for check signing
• C) Custody of short-term investment securities
• D) Authorization of write-offs of accounts receivable

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Definitions:

Grinding Machine Time

This refers to the amount of time a grinding machine is in actual operation to perform its designated tasks.

Additional Minute

Incremental time that may be added to a process or activity, often used in planning or scheduling to account for unexpected delays or extensions.

Existing Capacity

Refers to the maximum production volume or service level that an organization can currently achieve with its existing resources and facilities.

Financial Advantage

The benefit gained in terms of money, that gives an individual or business a better position compared to others.