Within the context of the financing process, separation of duties means:
A)The accounting department cannot issue dividend checks without the approval of the board of directors.
B)An accountant who prepares dividend checks cannot also prepare checks for repayment of long-term debt.
C)Both the accounting department cannot issue dividend checks without the approval of the board of directors and an accountant who prepares dividend checks cannot also prepare checks for repayment of long-term debt are true.
D)Neither the accounting department cannot issue dividend checks without the approval of the board of directors nor an accountant who prepares dividend checks cannot also prepare checks for repayment of long-term debt is true.

Question

Quizplus · Accepted Answer

The Answer of Within the context of the financing process, separation of duties means:
A)The accounting department cannot issue dividend checks without the approval of the board of directors.
B)An accountant who prepares dividend checks cannot also prepare checks for repayment of long-term debt.
C)Both the accounting department cannot issue dividend checks without the approval of the board of directors and an accountant who prepares dividend checks cannot also prepare checks for repayment of long-term debt are true.
D)Neither the accounting department cannot issue dividend checks without the approval of the board of directors nor an accountant who prepares dividend checks cannot also prepare checks for repayment of long-term debt is true.

Within the Context of the Financing Process, Separation of Duties