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Director Cindy collects all tuitions, submits a weekly bank deposit, pays the center bills on time, and reconciles the checking account statement. Is she following best business practices? Yes or No?
No: Best business practice requires "separation of duties." This means Cindy can not be the sole person to collect tuitions, do bank deposits, sign checks, and reconcile bank statements. Her board treasurer could split these duties with her, if there are no other administrators to assist.