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:

Labour Unions

Organizations formed by workers to protect their rights and interests through collective bargaining with employers.

Labour-Management Relations

The interactions between employees, often represented by unions, and employers concerning workplace decisions, wages, working conditions, and disputes.

Work Environment

The setting, conditions, and culture in which an employee performs their job, including physical, psychological, and social factors.

Development

The process of growth, progress, or positive change within an individual, organization, or society.