A well-designed set of internal controls helps a company achieve four main purposes. Which of the following best pairs two controls related to a single purpose?
A)Restrictive endorsements and bank reconciliations
B)Restrictive endorsements and pre-numbered documents (such as checks)
C)Bank reconciliations and background checks
D)Pre-numbered documents and background checks

Question

Quizplus · Accepted Answer

Restrictive endorsements and bank reconciliations both relate to safeguarding assets, specifically cash, by ensuring that funds are properly deposited and accounted for.

A Well-Designed Set of Internal Controls Helps a Company Achieve