Which of the following reflects a weak internal control system?
A) All employees are well supervised.
B) A single employee is responsible for comparing a receiving report to an invoice.
C) All employees must take their vacations.
D) A single employee is responsible for the collecting and recording of cash.
Correct Answer:
Verified
Q25: A business that requires all cash payments
Q43: Risks can be analyzed to:
A)assess their likelihood
Q45: The Sarbanes-Oxley Act of 2002 requires companies
Q47: Minimum cash balance maintained in the bank
Q48: In preparing a bank reconciliation, the amount
Q49: An element of internal control is:
A)generally accepted
Q52: ,which constitute one of the most important
Q54: A debit memorandum from the bank indicates
Q58: In preparing a bank reconciliation, the amount
Q60: When the petty cash fund is replenished,
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