Multiple Choice
Brown's Convenience is open 7 days a week. The cash receipts from Saturday and Sunday are kept in an envelope in a back storage room and are deposited each Monday morning. This process violates which internal control activity?
A) establishment of responsibility
B) safeguarding of assets and records
C) segregation of duties
D) independent checks of performance
Correct Answer:
Verified
Correct Answer:
Verified
Q38: A system of internal control<br>A) can never
Q39: The fees for credit cards are higher
Q40: A debit memorandum would NOT be issued
Q41: Internal auditors<br>A) are hired by CA firms
Q42: Which of the following would NOT be
Q44: The retailer considers VISA and MasterCard sales
Q45: Internal auditors evaluate the effectiveness of the
Q46: Below are descriptions of internal control problems.
Q47: One advantage of a cheque is that
Q48: International companies frequently list current assets in