Which of the following describes an example(s) of transaction risks in the financial process?
A) Transactions approved/created by unauthorized persons.
B) Transactions for unauthorized amounts.
C) Adjusting entries approved/created by unauthorized persons.
D) All of the above.

Question

Quizplus · Accepted Answer

All of the given options describe examples of transaction risks in the financial process. Transactions approved/created by unauthorized persons may lead to fraud and errors. Transactions for unauthorized amounts can lead to incorrect financial reporting and mismanagement of funds. Adjusting entries approved/created by unauthorized persons can manipulate financial statements and misrepresent the financial position of the organization.

Which of the Following Describes an Example(s) of Transaction Risks