An effective system of internal control requires that at least two individuals be assigned to one cash drawer so that each can serve as check on the other.
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Q8: Internal control is mainly concerned with the
Q9: Firms use physical controls primarily to safeguard
Q10: A highly automated computerized system of accounting
Q11: Control over cash disbursements is improved if
Q12: The responsibility for keeping the records for
Q14: Checks received in the mail should be
Q15: Internal control is most effective when several
Q16: A segregation of duties among employees eliminates
Q17: The responsibility for ordering receiving and paying
Q18: Cash registers are an important internal control
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