The Internal Control Process That Requires the Approval of a Cash

question 3

Multiple Choice

The internal control process that requires the approval of a cash disbursement transaction to take place prior to the preparation of the check, will help to minimize the risk of:

• A)Fictitious payments
• B)Invalid payments
• C)Timing issues
• D)Stolen cash

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Definitions:

Preferences

Individual choices or tastes that dictate the selection of options or alternatives over others.

Differentiated Marketing Strategy

A marketing approach in which a company develops products or services and marketing campaigns tailored to meet the needs and preferences of different market segments.

Market Segmentation

The process of dividing a market into distinct subsets of consumers with common needs or characteristics, to target them more effectively.

Shifting Population

Refers to demographic changes within a geography over time, including movement, growth, or decline, often impacting social, economic, and infrastructure planning.