Multiple Choice
Which of the following statements is false, related to the authorization of transactions?
A) Every transaction that occurs must be properly authorized in some manner.
B) General Authorization is the set of guidelines that allows transactions to be completed as long as they fall within established parameters.
C) It is not possible, nor is it important, to try to ensure that an organization engage only in transactions that are authorized.
D) Specific authorization that explicit approval is needed for that single transaction to be completed.
Correct Answer:

Verified
Correct Answer:
Verified
Q21: The chance for fraud or ethical lapses
Q22: In response to the need for internal
Q23: The definition of fraud includes the theft
Q24: A situation where the organization's cash is
Q25: This type of control is included in
Q27: The careful and responsible oversight and use
Q28: The falsification of accounting reports is referred
Q29: Proper segregation of functional responsibilities calls for
Q30: Which of the following was NOT listed
Q31: In addition to ethical practices, management has