Which of the following sets of duties would ordinarily be considered basically incompatible in terms of good internal control? ?
A) Preparation of monthly statements to customers and maintenance of the Receivables Ledger.
B) Maintenance of the Nominal Ledger and approval of additions and terminations relating to the payroll.
C) Custody of signed cheques and maintenance of Nominal Ledger.
D) Collection of receipts on account and maintaining Receivables Ledger

Question

Quizplus · Accepted Answer

In good internal control, the person responsible for collecting receipts should not also maintain the Receivables Ledger, as this could allow them to misappropriate funds and conceal the theft by altering the ledger.

Which of the Following Sets of Duties Would Ordinarily Be