Question

A clerk receives checks and customer receipts in the mail. He endorses the checks, fills out the deposit slip, and posts the checks to the cash receipts events data. The clerk is exercising which functions?

1) recording and executing events
2) authorizing and executing events
3) recording and authorizing events
4) safeguarding of resources and authorizing events

Answer 1

The clerk is performing the functions of recording and executing events related to the handling of checks and customer receipts.

Step-by-step explanation:

The clerk in the scenario performs the functions of recording and executing events. When the clerk endorses the checks, fills out the deposit slip, and posts the checks to the cash receipts events data, they are completing the recording action by entering the transaction into the records and executing the transaction by completing the necessary steps to ensure the funds are deposited into the bank.

This does not include authorizing the transaction (which would typically be done prior to the clerk receiving the checks) or the safeguarding of resources, which involves protecting physical or digital assets from loss or theft.