Which of the Following Controls Would a Company Most Likely

Multiple Choice

Which of the following controls would a company most likely use to safeguard marketable securities when an independent trust agent is not employed?

A) The investment committee of the board of directors periodically reviews the investment decisions delegated to the treasurer.
B) Two company officials must be present to access marketable securities, which are kept in a bank safe-deposit box.
C) The internal auditor and the controller independently trace all purchases and sales of marketable securities from the subsidiary ledgers to the general ledger.
D) The chairman of the board verifies the marketable securities, which are kept in a bank safe-deposit box, each year on the balance sheet date.