What Is Allowing Only Certain Employees to Order Goods and Services

question 64

Multiple Choice

What is allowing only certain employees to order goods and services on behalf of the company an example of?

• A) documentation adequacy
• B) safeguarding of assets and records
• C) checks on recorded amounts
• D) clearly defined authority and responsibility

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Definitions:

Collateral Contracts

Collateral contracts are agreements that run parallel to the primary contract, providing additional assurance or terms related to the main contractual agreement.

Express Warranty

A seller's promise or guarantee to a buyer that a product will meet specified quality and performance standards.

Implied Warranties

Refers to unspoken, unwritten guarantees assumed for a product or service under the law.

Incidental Damages

Additional expenses incurred by one party as a result of another party's breach of contract.