Question

For effective internal control purposes, which of the following individuals should be responsible for mailing signed checks?

Option 1: Accounts Receivable Clerk
Option 2: Chief Financial Officer
Option 3: Purchasing Manager
Option 4: Office Administrator

Answer 1

The Chief Financial Officer (CFO) should be responsible for mailing signed checks for effective internal control purposes.

Step-by-step explanation:

The Chief Financial Officer (CFO) should be responsible for mailing signed checks for effective internal control purposes.

The CFO is the highest-ranking financial officer in a company and is responsible for overseeing the company's financial activities, including managing cash and making payments.

By having the CFO handle the mailing of signed checks, it ensures that there is a clear segregation of duties and reduces the risk of fraud or misuse of funds.