A company has a policy that all checks over $5,000 need to have the signature of the owner in addition to the signature of the bookkeeper.This is an example of:
A)limited access.
B)proper approvals.
C)adequate records.
D)encryption.

Question

Quizplus · Accepted Answer

The policy of requiring the signature of the owner in addition to the bookkeeper for checks over $5,000 demonstrates proper approvals. This ensures that there is an additional level of authorization for larger expenses, which helps to deter fraudulent activity or errors. Limited access refers to restricting access to sensitive information or assets, adequate records means maintaining accurate and complete documentation, and encryption involves using a code or algorithm to secure data or communications.

A Company Has a Policy That All Checks Over $5,000