Which of the Following Best Explains "Transaction Limits" as an Internal

question 12

Multiple Choice

Which of the following best explains "transaction limits" as an internal control?

• A) Two signatures are required on all checks.
• B) A bank teller needs management approval to accept deposits over $500.
• C) Purchasing agents cannot complete more than six purchase orders each day.
• D) Sales staff must verify a client's credit before making a sale.

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Definitions:

Survey

A method of gathering information from a sample of people, traditionally by asking questions, to generalize the results from the sample to a larger population.

Data Entry

The process of inputting data into a computer system, database, or documentation platform.

Constructs

Broad concepts or categories used to organize and interpret observations, often fundamental in psychological theories and research.

Psychological Attributes

Characteristics or qualities of an individual's mental life, including cognitive, emotional, and personality traits.