Accountıng I Deneme Sınavı Sorusu #1227288

In terms of control activities, which of the following procedure is related to the accounting process, and provides the details about financial transactions in a business?


Information Technology

Hiring competent, reliable, and ethical personnel

Assignment of responsibilities

Separation of duties

Documentation


Yanıt Açıklaması:

Documentation, which is related to the accounting process, provides the details about financial transactions in a business. These include sales invoice, purchase orders, shipping records, reports, etc. For each transaction, separate and adequate documents should be prepared as hard copy or in an electronic format. Documents should be pre-numbered to assure the completeness of the transaction and to prevent control deficiencies. The correct answer is E.

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