Which of the following is not a basic characteristic of a system of cash control? Group of answer choices use of a voucher system combined responsibility for handling and recording cash daily deposit of all cash received internal audits at irregular intervals

Q: Which of the following internal controls is a common detective control over cash and cash…

A: Internal control  is implemented, to maintain effectiveness, efficiency, ,follow the policies,…

Q: Which of the following considered cash receipt control principles: Select one: O a. Cash receipt can…

A: Cash receipt control principles means those principle which help business to control the receipts of…

Q: Entries are made to the petty cash account when Select one: A. establishing the fund B. recording…

A: Petty Cash is cash fund in the company to pay a small sum of money. It is needed in a company…

Q: Which of the following generally would be considered good internal control of cash disbursements? a.…

A: Cash controls:   Management must have a safety measure to protect all assets against possible…

Q: The bank reconciliation Select one: A. is sent to the bank for verification B. is for information…

A: Introduction:- Bank reconciliation play vital role in every organization. It identify the balance of…

Q: Which of the following items on a cash reconciliation would require a journal entry by the company?…

A: The bank reconciliation statement is prepared to equate the balances of the cash book and pass book…

Q: Preparing the bank recociliation is consifered to be an important step in interna; control process…

A: Bank reconciliation refers to the process of reconciling the balances of the accounting records of…

Q: Which of the following is the best audit procedure for the detection of lapping?   a. Comparison of…

A: Lapping means deliberately misappropriation of the funds by the employee of the organization.  When…

Q: This test of details of transactions for cash balances involves the counting of all undeposited cash…

A: Accounting is the process of recording, classifying, and summarizing accounting transactions. This…

Q: What is the major purpose of an imprest petty cash fund? A. to effectively plan cash inflows and…

A: Imprest petty cash fund is cash balance with the petty cashiers for paying little business…

Q: Which of the following are characteristics of an effective control of cash disbursements? I.…

A: Solution: Following are the characteristics of an effective control of cash disbursements: I.…

Q: Which of the following is not an example of control procedures to safeguard cash received from…

A: Cash is one of the important current asset of the business. It's management and valuation is very…

Q: internal controls over cash receipts and cash payments. Identify and discuss the similarities and…

A: lnternal control are  methods that are ensure  the proper safeguarding of assets are necessary to…

Q: Which of the following is an internal control guideline for better management of cash receipts?…

A: generally, there must be segregation of duties as part of the internal control system. work done by…

Q: Which of the following statements are true regarding the control of cash receipts and cash payments?…

A: To control cash receipts and cash payments, Over-the-counter cash sales should be recorded on a cash…

Q: Which of the following is NOT an example of an internal control system?  Select one: a )Prenumber…

A: Internal Control System: It is the process which ensures that organisational objective will be…

Q: The bank reconciliation ? Please explain with full explanation.  a. should be prepared by an…

A: Following is the answer to given problem

Q: Cash control systems are the methods and procedures used to ensure --   a. That current obligations…

A: Hello. Since your question has multiple sub-parts, we will solve the first three sub-parts for you.…

Q: Identify each of the following statements as either true or false. A voucher system of control is a…

A:

Q: Entity A maintains a petty cash fund. At any given point of time, the cash on hand and the petty…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: Management uses a voucher system to help control and monitor cash payments. Which one or more of the…

A:

Q: Indicate whether the following statements are true or false. A guideline for safeguarding cash is to…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Which of the following does not show good cash management regarding the controls over cash…

A: Segregate duties The foundation of a good internal control system is segregation of duties. The…

Q: Which of the following is an effective internal control for cash payments? A.Payments should be…

A: Cash is one of the important current asset of the business. It's valuation and management is very…

Q: What internal control functions are performed by a cashregister and point-of-sale system? How are…

A:

Q: A common audit procedure to verify the existence assertion of cash account balances is: a.…

A: Existence assertion is the assertion that the assets and the liabilities which is appearing the…

Q: Explain the relationships among the initial assessed controlrisk, tests of controls and substantive…

A: The cash account is affected by the transaction in most of the cycles. Since there is a relationship…

Q: Which one of the following documents is used in the control of cash receipts? a. Purchase…

A: Cash Receipts - Cash Receipts are the receipts which are the supporting document or evidence used by…

Q: Which of the following controls would be most effective in detecting a failure torecord cash…

A: Meaning of Internal Control Internal controls are the activities which an organization implements to…

Q: cash control?

A: Correct Answer is B