The Office Manager Forgot to Record in the Accounting Records

question 118

Multiple Choice

The office manager forgot to record in the accounting records the daily bank deposit.Which control procedure would most likely prevent or detect this error?

• A)segregation of duties
• B)independent verification
• C)accounting records
• D)supervision

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Definitions:

Advertised Price

The price of a product or service that is publicly promoted or communicated to potential customers.

House Brand

A product that is marketed and sold by a retailer under its own brand name, as opposed to a brand name owned by a supplier.

UPC Bar Code

Universal Product Code; a barcode symbology used for tracking trade items in stores primarily in the United States.

Consumer Protection Act

A set of laws designed to protect the rights and interests of consumers by regulating fair trade, competition, and accurate information in the marketplace.