Prenumbered Printed Cheques Are an Example of Which Internal Control

question 66

Multiple Choice

Prenumbered printed cheques are an example of which internal control principle?

• A) Technological controls
• B) Maintain adequate records
• C) Perform regular and independent reviews
• D) Technological controls and maintain adequate record
• E) All of the above

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Definitions:

Cash Inflow

Money coming into a business or project from various sources including sales, investment income, or financing.

Cash Outflow

Money that flows out of a business or a financial account, typically representing expenses or investments.

Direct Method

A cash flow statement reporting approach that lists major payments and receipts of cash, providing a clear view of cash inflows and outflows.

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, culminating in a net profit or loss.