Multiple Choice
An application of good internal control over cash disbursements is
A) following payment, the approved invoice should be stamped PAID.
B) blank checks should be stored in the treasurer's desk.
C) each check should be compared with the approved invoice after the check is issued.
D) check signers should record the cash disbursements.
Correct Answer:

Verified
Correct Answer:
Verified
Q98: A bank reconciliation is generally prepared by
Q99: Proper control for over-the-counter cash receipts includes<br>A)a
Q100: Jolene is warehouse custodian and also maintains
Q101: If the month-end bank statement shows a
Q102: When making a payment from the petty
Q104: The use of remittance advices for mail
Q105: Electronic Funds Transfer (EFT) is a disbursement
Q106: Requiring employees to take vacations is a
Q107: Cash equivalents are defined by IFRS as<br>A)cash
Q108: A system of internal control consists of