Which of the following represents good internal control procedures concerning cash payments?
A) Allow anyone to access petty cash.
B) Make sure that all cash payments are made by check (with the exception of petty cash) .
C) Assign an employee responsibility of preparing the checks, signing the checks, and preparing the bank reconciliation.
D) Keep check supplies available to all employees.
Correct Answer:
Verified
Q30: At the end of fiscal year, if
Q31: The entry to reimburse the Petty Cash
Q32: Which of the following represent good internal
Q33: Two bank statement amounts that require journal
Q34: Which of the following would be added
Q36: Which of the following statements is true
Q37: A Petty Cash Fund established with a
Q38: If the Petty Cash Fund is not
Q39: When a Petty Cash Fund has been
Q40: Which of the following is required by
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents