A retail store has a policy that cash must be deposited in the bank twice each day. This would most likely be an example of which type of internal control?

Name: A retail store has a policy that cash must be deposited in the bank twice each day. This would most likely be an example of which type of internal control?
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Question

Quizplus · Accepted Answer

The policy of depositing cash twice daily is an example of loss limitation procedures, as it reduces the amount of cash that is vulnerable to theft or loss in the store.

A Retail Store Has a Policy That Cash Must Be