To maintain effective internal control,the majority of all payments in an organization should be made using cash.

Question

Quizplus · Accepted Answer

Maintaining effective internal control involves having proper checks and balances to prevent fraud and errors. Using cash for the majority of payments can increase the risk of theft and mismanagement. Electronic payments, such as bank transfers or online payments, can provide a more secure and efficient way to make payments while also allowing for better tracking and record-keeping.

To Maintain Effective Internal Control,the Majority of All Payments in an Organization