Which of the following are characteristics of an effective control of cash disbursements? I. Requiring all checks to be pre-numbered II. Requiring all checks to be signed by one person and countersigned by another III. Requiring approved supporting documents for each check issued IV. Requiring disbursements to be done in cash from daily receipts prior to making bank deposits to minimize handling of cash
Which of the following are characteristics of an effective control of cash disbursements? I. Requiring all checks to be pre-numbered II. Requiring all checks to be signed by one person and countersigned by another III. Requiring approved supporting documents for each check issued IV. Requiring disbursements to be done in cash from daily receipts prior to making bank deposits to minimize handling of cash
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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4.Which of the following are characteristics of an effective control of cash disbursements?
I. Requiring all checks to be pre-numbered
II. Requiring all checks to be signed by one person and countersigned by another
III. Requiring approved supporting documents for each check issued
IV. Requiring disbursements to be done in cash from daily receipts prior to making bank deposits to minimize handling of cash
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