Below is a flowchart detailing an organization's bank reconciliation process. Which of the following conclusions can be drawn from the flowchart?

Question

Eric Swisher · Accepted Answer

There is an appropriate segregation of duties in the treasury department during the bank reconciliation process.

Eric Swisher · Answer

There is a conflict in the segregation of duties between preparing bank reconciliations and posting payments to the accounting books.

Eric Swisher · Answer

There is a large workload for the treasury accountant during the bank reconciliation process.

Eric Swisher · Answer

Bank statements should be obtained at a higher level, such as through the treasury supervisor.

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