Quiz: What Is Financial Accounting?

Question 6 of 10

Which of these is an example of a detective control procedure?

A. Standardized documentation
B. Approval authority
C. Periodic reconciliations
D. Separation of duties

Question

11-08-2024
Business

Answered

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Quiz: What Is Financial Accounting?

Question 6 of 10

Which of these is an example of a detective control procedure?

A. Standardized documentation
B. Approval authority
C. Periodic reconciliations
D. Separation of duties

Sagot :

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Final answer:

Detective control procedures in financial accounting, such as periodic reconciliations, play a crucial role in identifying errors and fraud.

Explanation:

Detective control procedures are used in financial accounting to identify and investigate potential issues or discrepancies. An example of a detective control procedure is periodic reconciliations, where regular comparisons are made to detect errors or fraud. These reconciliations help ensure the accuracy and integrity of financial data.

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