How many of these are features of good internal control of cash payments? Separation of record-keeping...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
How many of these are features of good internal control of cash payments? Separation of record-keeping and the authority to sign cheques The use of a business bank account allowing all major payments to be made by cheque or electronic transfer • Cheques should be written out promptly even if the invoice is not yet provided. The use of a petty cash fund to cover small incidental cash payments а. One b. Two с. Three d. Four How many of these are features of good internal control of cash payments? Separation of record-keeping and the authority to sign cheques The use of a business bank account allowing all major payments to be made by cheque or electronic transfer • Cheques should be written out promptly even if the invoice is not yet provided. The use of a petty cash fund to cover small incidental cash payments а. One b. Two с. Three d. Four
Expert Answer:
Answer rating: 100% (QA)
How many of these have the features of good internal control over cash payments Answer c Three Defin... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
How many of these problems could be explained by compensation Issues
-
A small company maintains a petty cash fund for minor expenditures. In February and March 2014, the following transactions took place: a. The fund was established in the amount of $200.00 on Feb. 1...
-
Many organizations use electronic funds transfer (EFT) when they are transferring cash among banks, collecting from customers, paying employees, and paying vendors. Under these systems, cash is...
-
Suppose that in a particular area the consumption of water varies tremendously throughout the year, with average household summer use exceeding winter use by a great deal. What effect would this have...
-
Describe the purpose of an operational audit.
-
Nex Company uses both special journals and a general journal as described in this chapter. On June 30, after all monthly postings had been completed, the Accounts Receivable control account in the...
-
Amy Cardoza, Jeff Williams, and Claire Mangoni are partners in an existing music business. Each partner's equity is \($32,000,\) for a total equity of \($96,000.\) The partners agree to admit Russ...
-
Kelsoe worked for International Wood Products, Inc., for a number of years. One day Hernandez, a director and major stockholder of the company, promised Kelsoe that the corporation would give her 5...
-
3. (a) A city has sunny weather on 3 out of every 5 days on average. Use the binomial formula to find the probability that exactly 4 days out of a 7 day week are sunny. Binomial formula P(x)-Cap...
-
Fantastique Bikes is a company that manufactures bikes in a monopolistically competitive market. The following graph shows Fantastique?s demand curve, marginal revenue curve (MR), marginal cost curve...
-
Find an equation of the plane through (-8, 2, -2) that is perpendicular to the planes 3x y+z = 4 and x+y- 4z = 6. O -13y + 4z+ 34 0 O 3x + 13y + 4z + 6 = 0 O 3x 13y + 4z + 58 = 0 O 3x y+z+ 28 = 0...
-
what ways does social control intersect with theories of deviance and criminality, particularly concerning the application of punitive measures versus restorative justice approaches to manage...
-
A cast iron water pipe 450 mm in diameter having thickness 18 mm is supported on a span of 7 meters. Determine the maximum bending stress in the material of the pipe when the pipe is running full,...
-
(Figure 1) illustrates an Atwood's machine. Let the masses of blocks A and B be 9.00 kg and 3.00 kg, respectively, the moment of inertia of the wheel about its axis be 0.220 kg - m, and the radius of...
-
What role does the media play in the process of social control, especially regarding the construction and reinforcement of societal norms, the dissemination of moral panics, and the shaping of public...
-
Prompt 1: When developing an integrated marketing plan, what types of research and/or information about your client's target consumer should/can be gathered? How can it be obtained and in what ways...
-
Keep given variable names ( Python ) fill in the code exactly like first three pages pages with black background are to test the answers . In [ ]: # import packages import numpy as np import matp
-
9.Consider the reaction 3NO2(g)+H2O=2HNO3(aq)+NO(g) where Delta H=-137 kJ.How many kilojoules are released when 92.3g of NO2 reacts?
-
Adjustments to the balance per books Required Identify which of the following items are added to or subtracted from the unadjusted book balance to arrive at the true cash balance. Distinguish the...
-
What does the statement costs can be assets or expenses mean?
-
Why is it easier for a corporation to raise large amounts of capital than it is for a partnership?
-
A constructive partnership between the chair and the chief executive is vital to every nonprofit. Why is this true or does it always matter?
-
For the most part, chairs change regularly, but the chief executive stays in place for a longer period of time. How can this situation affect the dynamics of the two positions?
-
Discuss the ways in which a federated system can be formed. What are the key roles of the national board and the chapter boards? How do the national staff and the chapter staff best relate to this...
Study smarter with the SolutionInn App