The Controller at Business Services Consulting Needs New Computers for the Accounting

question 125

Multiple Choice

The controller at Business Services Consulting needs new computers for the accounting department.However,there are no guidelines specifying whether the controller can approve purchases of office equipment.Which internal control procedure needs strengthening?

• A) assignment of responsibilities
• B) competent, reliable, and ethical personnel
• C) separation of duties
• D) documents

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Definitions:

Comprehensive View

is an approach or perspective that considers all aspects and factors, providing a complete and inclusive understanding of a subject or problem.

Financial Performance

An assessment of how well an organization manages its resources and commitments to generate income and ensure sustainability.

Inventory Turnover

A ratio showing how many times a company's inventory is sold and replaced over a specific period, indicating the efficiency of inventory management.

Cost-Benefit Ratio

A financial assessment tool that compares the costs of an action or project to its benefits, to determine its feasibility or value.