Solved

Which of the Following Is NOT an Internal Control Over

Question 188

Multiple Choice

Which of the following is NOT an internal control over the petty cash fund?


A) Petty cash tickets are sequentially numbered.
B) A specific amount of cash is designated to be kept in the petty cash fund.
C) Petty cash tickets serve as the authorization voucher and explanation.
D) Two custodians should be assigned responsibility for the petty cash fund.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions