A charity sells raffle tickets at community events.One ticket will be chosen to win a prize.The charity could reduce the risk of employee misappropriation of cash best by:
A) Insuring all employees with fidelity bonds.
B) Counting all cash in the presence of two people as soon as it comes back to the charity's offices.
C) Having auditors conduct surprise cash counts at the community events.
D) Using prenumbered tickets and accounting for all ticket numbers.
Correct Answer:
Verified
Q4: Which of the following audit procedures is
Q12: Which of the following is most likely
Q13: Infotech is a small software company with
Q14: Which of the following internal control procedures
Q30: In evaluating the adequacy of the allowance
Q31: Typical source documents involved in the revenue
Q33: The control objective associated with selecting a
Q34: Upon receipt of customer cheques in the
Q37: When the credit manager decides a customer's
Q40: Tracing a sample of recorded cash receipts
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents