Cash control systems are the methods and procedures used to ensure
A)that current obligations are met
B)that excess cash does not exist
C)the safeguarding of cash
D)that unused cash is invested

Question

Quizplus · Accepted Answer

Cash control systems are primarily focused on safeguarding cash, ensuring that appropriate measures are in place to prevent theft, fraud or loss of cash. While managing current obligations and investing unused cash are important functions, they are not the primary purpose of cash control systems. Similarly, the concept of excess cash does not necessarily apply to all organizations, and therefore is not a critical consideration in cash control.

Cash Control Systems Are the Methods and Procedures Used to Ensure