As part of a strong internal control system, which of the following accounting duties needsto be separated from cash handling?a. Record keepingb. Filingc. Transaction approvald. Both a and c need to be separated from cash handling.

As part of a strong internal control system, which of the following accounting duties needsto be separated from cash handling?a. Record keepingb. Filingc. Transaction approvald. Both a and c need to be separated from cash handling.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

As part of a strong internal control system, which of the following accounting duties needs
to be separated from cash handling?
a. Record keeping
b. Filing
c. Transaction approval
d. Both a and c need to be separated from cash handling.

Processes and procedures involved in achieving the organizational goals and objectives for the daily operations of a company. Control systems involve all the operational control systems, their implementation, and strategic control processes.

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