Which of the Following Describes the Internal Control Procedure "Separation

question 83

Multiple Choice

Which of the following describes the internal control procedure "separation of duties?"

• A)Cashiers must not have access to accounting records.
• B)External auditors will monitor internal controls.
• C)The information system is critical.
• D)The invoices and other documents must be pre-numbered.

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Definitions:

Rate of Return

A measure of the gain or loss on an investment over a specific period, expressed as a percentage of the investment's initial cost.

Current Stock Price

The price of a single share of a company's stock as currently traded on the stock exchange.

Market Rate of Return

The average rate of return anticipated by investors on investments in a specific market.

Last Dividend

The most recent dividend payment made to shareholders by a company.