1. Describe how internal controls help ensure that the cash of a large business is not misused?
 
2. Describe, how a petty cash fund is set up?
 
3. What is the purpose of a bank reconciliation and how is it prepared?

Answer rating: 100% (QA)

1 Internal Controls and Cash Misuse Internal controls are essential mechanisms implemented by businesses to safeguard their assets including cash and ensure that they are not misused Heres how interna... View the full answer