The approval or endorsement from a responsible person or department of an organization that has been sanctioned by top management is the process of:
A)Securing assets
B)Segregating duties
C)Authorizing transactions
D)Adequate recording

Question

Quizplus · Accepted Answer

The process described in the question is the authorization of transactions. This involves obtaining approval or endorsement from a responsible person or department within the organization, who has been given the authority to do so by top management. This is an important internal control that helps ensure transactions are conducted in accordance with company policies and procedures. Securing assets, segregating duties, and adequate recording are also important internal controls, but they are not specifically described in the question.

The Approval or Endorsement from a Responsible Person or Department