Which internal control procedure is followed when management authorizes the purchasing department to order goods and services for the company?
a. Segregation of duties
b. Safeguarding of assets and records
c. Independent verifications
d. Proper authorizations
d
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A limited liability partnership involves:
A) a partnership in which partners who are not negligent are not personally liable for losses caused by the negligence of another partner or of an employee directly supervised by another partner; B) a partnership in which partners who are not negligent are personally liable for losses caused by the negligence of another partner or an employee directly supervised by another partner C) a partnership in which some of the partners limit their liability to the amount of their capital contributions and are not active in the conduct of the business D) a partnership in which partners who are not fraudulent are not personally liable for the losses caused by the fraud of another partner E) none of the above