The Purpose of Segregating the Duties of Hiring Personnel and Distributing

question 5

Multiple Choice

The purpose of segregating the duties of hiring personnel and distributing payroll cheques is to separate the ________.

• A)human resources function from the controllership function
• B)administrative controls from the internal accounting controls
• C)authorization of transactions from the custody of related assets
• D)operational responsibility from the record-keeping responsibility

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Definitions:

Long-Run Average Total Cost

The per unit cost of production that includes both fixed and variable costs when all inputs are considered variable in the long run.

Output

The amount of products or services that a company, sector, or nation generates over a specific timeframe.

Gasoline Prices

The cost per unit of gasoline, influenced by factors like crude oil prices, taxes, and demand.

Shift

In economics, a movement or change in the position of a supply or demand curve in response to external factors.