As part of a sound system of internal controls,all disbursements (with the exception of petty cash)should be made by cheque.

Name: As part of a sound system of internal controls,all disbursements (with the exception of petty cash)should be made by cheque.
Brand: Quizplus
Rating: 4.8 (60 reviews)

Question

Quizplus · Accepted Answer

Disbursements made by cheque provide a clear audit trail and reduce the risk of fraud and misappropriation of funds. Petty cash may be exempt from this requirement due to the small amounts involved and the need for immediate cash transactions.

As Part of a Sound System of Internal Controls,all Disbursements