The Assignment of Tasks So That the Work of One

question 24

Multiple Choice

The assignment of tasks so that the work of one employee acts as a check on the work of another is known as:

• A)Division of responsibility
• B)Safekeeping
• C)Administrative control
• D)Collusion

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Definitions:

Purchase Returns

Goods returned by the buyer to the seller, usually because they are defective or not as per the order placed.

Freight In

A cost associated with transporting goods into a business, often included in the cost of goods sold because it directly relates to the cost of bringing inventory to the business.

Contra Account

An account used in the general ledger to reduce the value of a related account without adjusting the original account directly.

Sales Returns

Transactions where customers return previously purchased merchandise, resulting in a refund or credit.