Allowing only the treasurer to sign checks is an example of Group of answer choices establishment of responsibility. other controls. separation of duties. documentation procedures.

Question

Elaina Douglas

Business

19 October, 08:51

Allowing only the treasurer to sign checks is an example of Group of answer choices establishment of responsibility. other controls. separation of duties. documentation procedures.

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Amiah Webster · Answer 1

Establishment of responsibility

Explanation:

Establishment of responsibility is an essential characteristic of an internal control mechanism put in place by different organizations which allows a particular task to be assigned to specific individuals. Establishing responsibility also includes the authorization and approval of transactions in a particular firm or organization. This is because control is most effective when only one person is responsible for a given task.