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.
Correct Answer:
Verified
Q2: If a company deposits all its receipts
Q3: Which of the following is not one
Q4: Related selling activities do not include
A)ordering the
Q5: The daily cash count of cash register
Q6: A petty cash fund should be replenished
A)every
Q7: A remittance advice attached to a company
Q8: If a check correctly written and paid
Q9: Hoppmann Company wrote checks totaling $25,620 during
Q10: When making a payment from the petty
Q11: Only large companies need to be concerned
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