Multiple Choice
Three key duties that must always be separated under a good system of internal controls are:
A) asset handling,record keeping and transaction approval.
B) asset handling,hiring and safeguarding of assets.
C) asset handling,recordkeeping and safeguarding of assets.
D) record keeping,transaction analysis and transaction approval.
Correct Answer:

Verified
Correct Answer:
Verified
Q76: Olde Shoppe has the following information at
Q77: Internal controls for cash receipts over the
Q78: Marjorie Company's cash balance per the books
Q79: _ is the element in the fraud
Q80: Which journal entry is prepared for a
Q82: To further prevent the theft of cash,many
Q83: Once the company receives newly purchased inventory,it
Q84: The owner of Samuelson Inc.has reason to
Q85: List the five internal control procedures.
Q86: Which law or regulation requires that public