Which of the following is a good internal control for cash payments?
A) Payments to suppliers should be made as quickly as possible.
B) An experienced accountant should have total responsibility for all cash payment functions.
C) Payments should be authorised before they are made.
D) Supporting documentation should be destroyed immediately after payment to avoid incorrectly paying twice.
Correct Answer:
Verified
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Q51: A business' working capital is:
A) the excess
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Q53: Which of the following is NOT one
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Q56: A cash receipt that the business has
Q57: Which of the following would NOT be
Q58: Which of the following pieces of information
Q59: Which of the following is NOT a
Q60: What is an internal control structure?
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