Allowing only designated personnel to handle cash receipts is an example of
A) establishment of responsibility.
B) segregation of duties.
C) documentation procedures.
D) independent internal verification.

Question

Quizplus · Accepted Answer

Allowing only designated personnel to handle cash receipts is an example of the establishment of responsibility. This principle of internal control aims to assign responsibility to specific individuals to reduce the risk of errors or fraud.

Allowing Only Designated Personnel to Handle Cash Receipts Is an Example