Which of these is not an important principle for the control of cash payments?
A) Employees who sign cheques should not accept delivery of goods.
B) Only senior staff should have the authority to approve invoices for payment.
C) Cheques should be written out promptly even if the invoice is not yet provided.
D) Once the cheque is written the invoice should be stamped 'paid'.
Correct Answer:
Verified
Q5: Which of these is not included in
Q6: Which of these is not a benefit
Q7: The overall procedures adopted by a business
Q8: Mechanical and electronic controls should be used,
Q10: Which of the following is not a
Q11: Which of these is a limitation of
Q12: Which of the following statements concerning internal
Q13: Which of these is not necessarily one
Q14: The asset most commonly subject to misappropriation
Q15: Internal controls that apply to computerised accounting
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