Which of the following is NOT an internal control activity forcash? a.The number of persons who have

Fantastic news! We've Found the answer you've been seeking!

Question:

Which of the following is NOT an internal control activity forcash?

a.The number of persons who have access to cash should belimited.

b.Bank accounts should be reconciled at least monthly.

c.The functions of cash record keeping and cash custody shouldbe combined.

d.All cash receipts should be correctly documented according tothe amount and reason.

Related Book For answer-question

Accounting Information Systems

ISBN: 9780132871938

11th Edition

Authors: George H. Bodnar, William S. Hopwood

See More Books

Posted Date: Dec 13, 2022 10:20 AM

See More Questions

Which of the following is not an internal control activity for cash? Employees who have access to cash should be bonded. Banking facilities should be used as much as possible. The amount of cash on...
Which of the following is not an internal control procedure for cash? a. Only designated personnel are authorized to handle cash. b. The same individual receives the cash and pays the bills. c....
Which of the following is not an internal audit objective designed to add value to a purchas-ing department? a. A review of the bidding process indicates that a vendor company may be operating under...
When component Auditors are involved in the audit of group financial statements the group Auditors are required to a. consider the independence and professional reputation of the component Auditors...
1. Should managers monitor employee e- mail and Internet usage? Why or why not? 2. Describe an effective e- mail and Web use policy for a company. 3. Should managers inform employees that their Web...
The City Commission of Nashville has decided to build a botanical garden and picnic area in the heart of the city for the recreation of its citizens. The precedence table for all the activities...
Washington Tennis & Education Foundation, Inc. (WTEF) is a nonprofit organization operating in the District of Columbia that provides athletic and academic programs for children from low-income...
The following information pertains to Joyce Company. 1. Cash balance per bank, July 31, $7,328. 2. July bank service charge not recorded by the depositor $38. 3. Cash balance per books, July 31,...
W (K$) 14 13 Rich 12 11 10 9 8 7 6 5 Poor W (K$) 14 13 12 11 10 9 8 7 6 5 4 16 18 20 22 24 26 28 17 19 21 L 20 22 24 26 23 25 27 (M) 21 23 25 27 29 31 28 30 32 34 36 L 33 35 37 (M) 1. There are two...
1. Assuming Anson decided to charge barrel costs (but not warehousing and aging costs) to inventory, what 2012 income statement and balance sheet items would change, and what would the new amounts...
In the extra credit assignment for partnership formations, the basic fact pattern is as follows: Mary and Todd form the MT Partnership, with a transfer of the following properties: Mary $500,000 cash...
List a minimum of 3 disclosures a financial advisor must provide to their client by law.
Suppose a company's capital structure includes a debt with maturity of 10 years and marginal tax rate of 40%. If the company's rating is AAA and the yield on the debt with the same similar debt...
Without using arrays(to store the integers/digits) and built-in methods(in doing the reverse), please make a program that prompts the user to input an integer from 100,000 to 100,000,000 and then...
The portion of the purchase price that an investor must deposit with a brokerage firm is called the Question 7 options: initial margin. initial equity. margin call. all of these choices are correct....
HealthAccount has the class attributes: an account number (this will be generated using a combination of numbers and letters not passed to this class), an AccountHolder object, the year the account...
Financial Ratios. Adelaide Inc. made $90,712.00 of revenue in 2020. The Cost of Goods Sold was $10,750.00, and the Total Expense was $45,755.00. As of December 31, 2020, the company had $228,240.00...
Design and describe an application-level protocol to be used between an automatic teller machine and a bank's centralized computer. Your protocol should allow a user 's card and password to be...
As discussed in this chapter, object- oriented databases represent an emerging technology. Required a. Write a brief report explaining the commercial applicability of object- oriented databases. Do...
What is a journal voucher? Describe how computer batch processing of journal vouchers may be used to update the general ledger.
A problem that sometimes can occur in systems design is that the final users of the system will fight its implementation. What can be done during the design phase to avoid this problem?
List all of the factors you can think of that people use when deciding where to shop for clothes.
List the most important three factors for you personally when deciding where to shop for clothes.
Intel has dominated the computer chip industry. Beginning with the iconic advertising campaign Intel Inside, the company has created a large market for powerful processors. This has allowed Intel to...

Which of the following is NOT an internal control activity forcash? a.The number of persons who have

Question:

Expert Answer:

Answer B Bank accounts should be reconciled at least monthly Explanation Bank accounts ... View the full answer

Accounting Information Systems

Students also viewed these accounting questions