Which of the following is a segregation policy for purchases?

The segregation policy for purchases emphasizes the importance of separating responsibilities within the purchasing process to maintain internal control and mitigate risks such as fraud and errors. The correct choice highlights that individuals responsible for raising purchase orders should not also be involved in the ledger keeping.

This separation ensures that no single person has control over related transactions, which could potentially lead to improper actions without oversight. For example, if the same individual manages both the creation of purchase orders and the recording of transactions in the ledger, they could manipulate financial records without detection. By distributing responsibilities across different individuals, organizations enhance their ability to monitor activities related to purchases and maintain the integrity of their financial reporting.

The other options either pertain to different aspects of internal control or do not effectively illustrate the principle of segregation of duties as it relates specifically to purchasing. For instance, handling sales order preparation is distinct from the purchasing process, and the management of sales ledger control accounts or the alignment of cheque signers with invoice preparation also falls outside the focus of purchasing segregation. This makes the first option the most relevant choice concerning segregation policy in the purchasing context.