Persons who authorize transactions should not handle the related asset. This is an example of which characteristic of internal control?
A)competent, reliable, and ethical personnel
B)assignment of responsibilities
C)proper authorization
D)separation of duties

Question

Quizplus · Accepted Answer

Separation of duties is a key characteristic of internal control that involves dividing responsibilities among different people to reduce the risk of error or inappropriate actions. In this case, separating the authorization of transactions from the handling of related assets helps prevent fraud and errors.

Persons Who Authorize Transactions Should Not Handle the Related Asset