Which of the following is correct?
A) Approval should be given by the employee responsible for recording the transaction.
B) Authorization is a policy decision for either a general class of transactions or specific transactions.
C) Approval is a policy decision implemented by employees.
D) Approval occurs as a matter of general policy and includes significant transactions only.

Question

Quizplus · Accepted Answer

Authorization refers to the policy decisions made regarding transactions, which can be either for a general class of transactions or specific ones. This process is about setting the guidelines or rules on how transactions should be handled, which is distinct from approval processes that are about endorsing specific actions within those guidelines.

Which of the Following Is Correct