Question

For losses up to and including $50, who conducts an informal review and files the documentation in the activity?

A) Shift leader
B) Activity manager
C) Budget analyst
D) Financial officer

Answer 1

For losses of up to $50, the shift leader usually handles the informal review and documentation within the activity. This procedure is based on the small amount involved and can vary according to the business's internal controls and policies.

Step-by-step explanation:

For losses up to and including $50, it is typically the shift leader who conducts an informal review and files the necessary documentation in the activity. The reason behind this delegation is that the losses are relatively minor, and therefore, do not necessitate a more formal procedure which might involve higher management or financial officers. However, this could vary depending on the specific organization's policies and procedures concerning financial losses and accountability.

It's important to clarify that this practice can differ based on the type of business, as well as its internal control system. If an activity falls under a larger institutional framework, there might be more stringent rules regarding who is responsible for filing documentation and reviewing financial discrepancies, even those as small as $50.