Effective internal controls for cash include:

Question

Quizplus · Accepted Answer

All of these options are effective internal controls for cash. By using prenumbered checks, the company can track each payment made and ensure that no unauthorized payments are made. Depositing cash in the bank on a regular basis reduces the risk of theft and allows for easier tracking of cash flow. Providing written cash receipts to customers not only serves as evidence of payment but also helps ensure that all payments are properly recorded. Together, these controls help to maintain the accuracy and security of the company's cash transactions.

Effective Internal Controls for Cash Include