Question: Failure to implement adequate ___ can result in financial statement fraud and ___. A) internal controls; embezzlement B) accounting systems; embezzlement C) GAAP, progress D)

Failure to implement adequate ___ can result in financial statement fraud and ___.
A) internal controls; embezzlement
B) accounting systems; embezzlement
C) GAAP, progress
D) GAAP, lack of progress
Which control procedure is considered the most control over cash?
A) Deposit cash receipts the next business day
B) Deposit cash receipts daily
C) Deposit post-dated checks on the date of the check
D) Lock up supply items valued over $25 per unit

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