True/False
An effective system of internal control requires that at least two individuals be assigned to one cash drawer so that each can serve as check on the other.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q21: Using prenumbered checks and having an approved
Q22: On October 1 Jack and Jill Company's
Q23: Internal auditors<br>A) are hired by CPA firms
Q24: Cash equivalents include each of the following
Q25: In large companies the independent internal verification
Q27: An adjusting entry is not required for<br>A)
Q28: Employees of a company who evaluate the
Q29: IFRS compared to GAAP tends to be
Q30: Internal control consists of the plan of
Q31: Deposits in transit<br>A) have been recorded on