The most important internal control over cash is to:

Question

Quizplus · Accepted Answer

Separating cash-handling duties from cash-accounting duties is the most important internal control over cash as it helps prevent fraud and errors. This means that the individuals responsible for receiving and depositing cash should not be the same individuals responsible for recording and reconciling cash transactions. Option A is not feasible for all businesses, and option C is a separate control over incoming mail. Option D is incorrect as internal controls are important to safeguard company assets and prevent errors and fraud.

The Most Important Internal Control Over Cash Is To