Electronic Authorization Privileges for Cash Transactions May Be Best Assigned

question 76

Multiple Choice

Electronic authorization privileges for cash transactions may be best assigned to individuals based on which of the following?

• A)Roles and activities falling within appropriate segregation of duties.
• B)Identification cards with picture identification.
• C)Encrypted passwords memorized by employees.
• D)The principle of "absolute knowledge."

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Definitions:

Treasurer Liability

The financial responsibilities borne by the treasurer of an organization, including managing funds and financial risk.

Warranties

Legally binding promises or guarantees about the state or quality of a product or service, provided by the seller.

Presentment

The act of formally presenting a document, such as a check or bill of exchange, for acceptance or payment.

Promissory Note

A financial instrument that contains a written promise by one party to pay another party a definite sum of money either on demand or at a specified future date.