Which of the following controls would an entity most likely use in safeguarding against the loss of trading securities?
a) An independent trust company that has no direct contact with the employees who have record-keeping responsibilities has possession of the securities.
b) The internal auditor verifies the trading securities in the entity's safe each year on the balance sheet date.
c) The independent auditor traces all purchases and sales of trading securities through the subsidiary ledgers to the general ledger.
d) A designated member of the board of directors controls the securities in a bank safe- deposit box.