In the Following Situation, Which Internal Control Procedure Needs Strengthening

Multiple Choice

In the following situation, which internal control procedure needs strengthening? At Hofstra Services, the junior accountant collects cheques and cash from customers and records the transactions into the Journal. The controller approves the journal entries and bank reconciliations. The treasurer signs cheques and approves contracts.

A) Assignment of responsibilities
B) Separation of duties
C) Documents and records
D) Competent, reliable, and ethical personnel