Multiple Choice
Internal control over a company's assets should include the following procedures:
A) Responsibilities and duties of employees will be divided.
B) All cash receipts will be deposited into the bank the same day they arrive.
C) All cash payments will be made by check (except petty cash) .
D) All of these answers are correct.
Correct Answer:
Verified
Correct Answer:
Verified
Q10: Advantages of on-line banking include:<br>A) convenience.<br>B) transaction
Q43: Deposits in transit result because of a
Q77: Company policy for internal control should include
Q86: For each of the following,identify in Column
Q88: A petty cash fund is set up:<br>A)to
Q89: Checks that have been processed by the
Q93: A nonsufficient funds check was returned to
Q95: The entry establishing a $200 petty cash
Q96: The debit recorded in the journal to
Q137: An employee assigned the responsibility for overseeing