8 Chapter 5 True or False- Indicate whether each of the following statements about cash payments is true or false. 1. Use of prenumbered checks is no longer recommended as part of an internal control system over cash 2. Reviewing supporting documents before signing a check can prevent employee theft and also reveal errors that employees may have made 3. To have effective controls over cash, a company must have good controls over both cash receipts and cash payments 4.A spoiled check should be marked void and then discarded or shredded 5. The person who signs a business's checks should make the journal entry to record the payment of cash ANSWER BELOW: 1 2 4