Which of the Following Statements Is Most Correct with Respect

question 100

Multiple Choice

Which of the following statements is most correct with respect to separation of duties?

• A) Employees should not have temporary and permanent custody of assets.
• B) Employees who authorize transactions should not have custody of related assets.
• C) It is permissible to allow an employee to open cash receipts and record those receipts.
• D) Employees who authorize transactions should have recording responsibility for these transactions.

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Definitions:

Functional Areas

Distinct segments within an organization, each focused on specific tasks or operations, such as marketing, finance, and HR.

Leading

The act of guiding or influencing others towards a goal or direction, often involving strategic decision-making, motivation, and team management.

General Manager

An executive who has overarching responsibility for managing both the revenue and cost elements of a company's income statement.

Operations

The day-to-day activities and processes that are essential for a business or organization to function effectively and achieve its objectives.