Which of the Following Is an Important Internal Control Over

question 46

Multiple Choice

Which of the following is an important internal control over payroll?

• A) Separating the duties of the disbursement of paychecks from the recording of payroll transactions in the ledger
• B) Separating the duties of safeguarding property from record-keeping of property
• C) Separating the duties of approving invoices from signing disbursement checks
• D) Separating the duties of cash disbursement from bank reconciliations

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Definitions:

Richard Nixon

The 37th President of the United States, serving from 1969 until 1974, who is best known for his involvement in the Watergate scandal which led to his resignation.

Watergate Investigation

A major political scandal in the United States involving the administration of President Richard Nixon, following a break-in at the Democratic National Committee headquarters and subsequent efforts to cover it up.

Oval Office Recordings

Audio recordings made secretly in the Oval Office, most famously by President Richard Nixon, which led to his resignation in the wake of the Watergate scandal.

Geneva Accords

Agreements concluded in Geneva in 1954, which temporarily separated Vietnam into two zones, aiming to end hostilities in Indochina and pave the way for political negotiations.