All of the following are important elements of internal control over cash except

Name: All of the following are important elements of internal control over cash except
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A cash reserve is not an element of internal control over cash; it is a financial management tool for liquidity. Internal controls over cash typically involve procedures to ensure accuracy and security of cash transactions, such as petty cash systems, bank reconciliations, and the prompt deposit of receipts.

All of the Following Are Important Elements of Internal Control