Payments by EFT Are an Important Internal Control for All

question 49

Multiple Choice

Payments by EFT are an important internal control for all of the following reasons EXCEPT for:

• A)the EFTs provide a record of the payments.
• B)the EFT must be approved by an authorized official.
• C)all EFT payments are made by the cashier in the Accounting Department.
• D)the authorizing official should study the evidence supporting the payment before approving the EFT.

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Definitions:

Cognitive Therapy

A type of psychotherapy that focuses on changing unhelpful or destructive thought patterns.

Sensitive Issues

Topics or subjects that require careful handling due to the potential to evoke strong emotional responses or controversy.

Anxiety Attack

A sudden and intense period of fear or discomfort, often with physical symptoms such as heart palpitations and sweating, without a clear threat or cause.

Socratic

Pertaining to the teaching methods of Socrates, which involve asking a series of questions to stimulate critical thinking and illuminate ideas.