Which of the following is a key element of internal control over cash payments?

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All of the choices listed are key elements of internal control over cash payments. Making all payments by check ensures that there is a paper trail and helps prevent fraud. Authorizing and signing checks only after the expenditure is approved ensures that the payment is legitimate and authorized. Reconciling the bank account helps detect errors and fraud. All of these elements work together to provide a system of internal control over cash payments.

Which of the Following Is a Key Element of Internal