aperson000
Answered

Westonci.ca connects you with experts who provide insightful answers to your questions. Join us today and start learning! Get expert answers to your questions quickly and accurately from our dedicated community of professionals. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

Select the correct answer. Richard runs a small manufacturing business. Recently, he discovered that some of the financial transactions recorded in the account books seem misleading. He suspects that some of his employees might be misusing the business’s cash reserves. Which of these measures of internal accounting controls may Richard take to avoid such instances in the future?
A.  firing all the employees in the given department
B.  reducing the salaries of suspected employees
C.  sanctioning financial transactions in advance in the future
D.  organizing a conference to discuss such issues ​

Sagot :

Samawati

Answer:

C.  sanctioning financial transactions in advance in the future

Explanation:

Sanctioning a financial transaction means approving or authorizing a transaction to be executed. Requiring approval for financial transactions is one of the measures of internal control. Employees are required to seek approval from management or authorities before proceeding with transactions.

Richard should demand that he sanctions all transactions in advance. Through this measure, he will get details and explanations of financial transactions before they happen.

queenava4l

Answer:

c

Explanation:

plato

Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. Thank you for using Westonci.ca. Come back for more in-depth answers to all your queries.