Multiple Choice
How many of these are features of good internal control of cash payments?
Separation of record-keeping and the authority to sign cheques
The use of a business bank account allowing all major payments to be made by cheque or electronic transfer
Preparing regular bank reconciliation statements
The use of a petty cash fund to cover small incidental cash payments
A) One
B) Two
C) Three
D) Four
Correct Answer:

Verified
Correct Answer:
Verified
Q1: Which of these is not a good
Q3: Which of these is not a principle
Q4: If the petty cash fund was not
Q5: The correct order in which the steps
Q6: Which of these is a principle of
Q7: Mojo Ltd received its monthly bank statement
Q8: Fletcher and Associates had an unadjusted bank
Q9: Bendigo Resources makes all sales on credit
Q10: Internal controls that apply to computerised accounting
Q11: The asset most commonly subject to misappropriation