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:

Financial Analysts Federation

An organization that represents the interests and professional development of financial analysts.

Money Management

The process of budgeting, saving, investing, spending, or overseeing the capital usage of an individual or group.

Earning Power

The ability of a company to generate profit from its operations over time.

Stock Portfolio

A collection of stocks held by an individual or institution, designed to achieve specified financial goals.