Which of the Following Illustrates the Internal Control Procedure-Separation of Duties

question 61

Multiple Choice

Which of the following illustrates the internal control procedure-separation of duties?

• A) Cashiers must not have access to accounting records.
• B) External auditors will monitor internal controls.
• C) Electronic devices must be installed to reduce theft.
• D) The invoices and other documents must be pre-numbered.

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Definitions:

Trade Imbalance

Trade imbalance occurs when there is a significant difference between a country's imports and exports, affecting its economic health.

Financial Crises

are situations where the value of financial institutions or assets drops significantly, leading to a collapse in the economy and causing widespread economic disruption.

Domestic Markets

Markets within a country's borders, where goods and services are produced, bought, and sold domestically.

Tatami Mats

Traditional Japanese straw mats used for flooring, known for their specific size and texture, contributing to the aesthetic and functionality of Japanese architecture.