The control activity related to not having the same person authorize and pay for goods is known as
A)physical controls.
B)review and reconciliation.
C)segregation of duties.
D)assignment of responsibility.

Question

Quizplus · Accepted Answer

Segregation of duties is a key internal control activity that ensures no single individual has control over all aspects of a financial transaction, which helps prevent fraud and errors. This principle is applied by separating the responsibilities of authorizing transactions (such as purchasing goods) and handling the related payments, thereby reducing the risk of misappropriation of assets or erroneous financial reporting.

The Control Activity Related to Not Having the Same Person