Separation of duties refers to:

A. Keeping functions across different departments separate.
B. Individuals who have physical responsibility for assets should not also have access to accounting records.
C. Making each manager personally responsible for his/her department.
D. Preventing top management and lower-level employees from interacting.


Answer: B

Business

You might also like to view...

The allowance for bad debts account may have a debit balance prior to adjustment

a. True b. False Indicate whether the statement is true or false

Business

Substantive testing techniques provide information about the accuracy and completeness of an application's processes

Indicate whether the statement is true or false

Business

The adjusting entry for an accrued revenue has the effects of increasing assets and increasing net income.

Answer the following statement true (T) or false (F)

Business

Sana is a highly ethical employee who takes her ethical conduct very seriously. She is moved to a new department under a very unethical manager who regularly gives her instruction. If Sana cannot change departments and is committed to remaining at the company, what is the most likely result of this new situation, given typical responses to such an arrangement?

a. She will reduce the quality of her work or output and hope the situation changes soon. b. She will begin to display unethical behavior at a similar level as her supervisor. c. She will try to undermine the manager by coordinating with other employees. d. Her work habits and performance will remain unchanged.

Business