Question

Where is access control exercised in the purchasing/cash disbursement functions?

1) During the approval process
2) During the payment process
3) During the reconciliation process
4) During the recording process

Answer 1

Access control is exercised in the purchasing/cash disbursement functions primarily 1) during the approval process.

Step-by-step explanation:

Access control in the purchasing/cash disbursement functions is crucial to prevent unauthorized or fraudulent activities. During the approval process, access control ensures that only authorized personnel can review and approve purchase requests or disburse cash. This step is vital in maintaining financial integrity and preventing unauthorized transactions.

Access control during the approval process involves setting up permissions and authentication measures to verify the identity and authority of individuals responsible for approving purchases or cash disbursements. This helps in safeguarding against potential fraud or misuse of financial resources.

In summary, access control is exercised 1) during the approval process in the purchasing/cash disbursement functions to maintain security and ensure that only authorized personnel have the ability to approve transactions, contributing to the overall integrity of the financial processes.