Multiple Choice
Joe is warehouse custodian and also maintains the accounting records of the inventory held at the warehouse. Which control procedure is violated?
A) documentation
B) independent checks of performance
C) segregation of duties
D) authorization of transactions and activities
Correct Answer:
Verified
Correct Answer:
Verified
Q1: An employee who makes a sale, ships
Q6: Deposits in transit<br>A)have been recorded on the
Q10: In preparing a bank reconciliation, outstanding cheques
Q19: Internal auditors<br>A)are hired by independent accounting firms
Q22: Internal controls may be limited by each
Q37: Background checks of prospective employees are not
Q57: To obtain maximum benefit from a bank
Q69: Only large companies need to be concerned
Q78: All documents should be prenumbered.
Q92: The use of prenumbered cheques is an