The cornerstone of the internal control of cash is:

Name: The cornerstone of the internal control of cash is:
Brand: Quizplus
Rating: 4.9 (47 reviews)

Question

Quizplus · Accepted Answer

The bank reconciliation is the cornerstone of the internal control of cash as it compares the accounting records of cash to the bank statement and helps identify any discrepancies or errors in the accounting of cash transactions. A strong safe, a petty cash system, and the double entry accounting system are all important components of internal control of cash, but they are not the cornerstone.

The Cornerstone of the Internal Control of Cash Is