A. The recordkeeping function includes recording both cash receipts and cash disbursements. As long as the same person does not perform both recordkeeping and authorization, custody, or reconciliation responsibilities, segregation of duties is maintained.

B. The purpose of segregation of duties is to prevent one person from being able to both perpetrate and conceal a fraud or even an error.

C. It is appropriate for an accountant to prepare both journal entries and financial statements.

D. Management's responsibility is to establish internal control policies and procedures. In addition, management has the authority to authorize transactions. As long as the same person does not perform both authorization of transactions and recordkeeping, custody, or reconciliation responsibilities, segregation of duties is maintained.