Which of the following statements is correct? A. Control is most effective when two or three people are given responsibility for the same task. B. The person who has custody of assets should not perform the record keeping for the assets. C. The person who has custody of assets should also perform the record keeping for the assets. D. It is often a waste of company resources to have an employee perform independent internal verification.

Question

Business

Erick Faulkner

15 September, 22:25

Which of the following statements is correct? A. Control is most effective when two or three people are given responsibility for the same task. B. The person who has custody of assets should not perform the record keeping for the assets. C. The person who has custody of assets should also perform the record keeping for the assets. D. It is often a waste of company resources to have an employee perform independent internal verification.

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Answers (1)

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Callum Arnold · Answer 1

"B"

Explanation:

Segregation of duties is a major international control procedure where responsibilities are shared between two or more individuals.

The aim is to minimize or prevent the opportunity for a particular individual to execute and cover up fraudulent activities.

It is arranged in a way that an individual is in the position to keep a check over the activities of the other party.