The reason for NOT permitting a person who has temporary or permanent custody of an asset to account for that asset is to protect the company primarily against:
A) defalcation.
B) error.
C) non-compliance with accounting standards.
D) unbiased information.

Question

Quizplus · Accepted Answer

By not allowing a person who has temporary or permanent custody of an asset to account for that asset, the company can protect itself primarily against defalcation or embezzlement. This ensures that there is proper oversight of the asset to prevent any fraudulent activity.

The Reason for NOT Permitting a Person Who Has Temporary