- (AUTHORIZATION MATRIX) The following are the authorized signatories for Serrano Company:
- Mr. A. Serrano
- Mrs. B. Serrano
- Mr. C. Serrano
- Ms. D. Serrano
Authorization matrix revealed the following:
|Amount of Disbursement||Who Will Sign?|
|P10,000 and below||ANY one (1) of the four (4) signatories|
|P20,000 and below||Mr. C. Serrano AND Ms. D. Serrano, jointly|
|Mr. A. Serrano, singly|
|Mrs. B. Serrano, singly|
|P50,000 and below||(PRIMARY) Mr. A. Serrano AND Mrs. B. Serrano, jointly|
|(SECONDARY) 1st signatory: either Mr. A. OR Mrs. B. Serrano;2nd signatory: either Mr. C OR Ms. D. Serrano|
|NOTE: Secondary is only used when one of the primary is not available.|
On November 6, the Finance Department prepared the following checks, vouchers and supporting documents for approval:
|Check Number||Payee||Amount||Complete Documents|
|00032||Juanito Dela Costa||P 7,500.00||a|
|00035||Techie Supplies Inc.||23,460.00||a|
|00036||Cruz, De Vera & Associates||62,000.00||a|
|00038||Home & Office Supplies Inc.||6,758.03||a|
|00041||007 Securities Incorporated||25,400.00||a|
Meanwhile, the following are the status and availability of the authorized signatories on Nov. 6.
- Mr. A. Serrano – available to sign
- Mrs. B. Serrano – out of office (business trip)
- Mr. C. Serrano – out of office (field work)
- Ms. D. Serrano – available to sign
If Mr. A. Serrano assigned the checks that can be signed singly by Ms. D. Serrano, how many checks will be left to be signed by Mr. A. Serrano, singly?
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