Which of the Following Is not an Internal Control Procedure

question 137

Multiple Choice

Which of the following is not an internal control procedure for cash?

• A)Payments should be made with cash.
• B)There should be limited access to cash.
• C)The amount of cash on hand should be kept to a minimum.
• D)Cash should be deposited daily.

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Definitions:

Quota

A limited quantity of a particular product that under official controls can be produced, exported, or imported.

Excise Tax

A tax charged on specific goods and services, such as tobacco and alcohol, often imposed to discourage their use or to generate revenue.

Sales

The exchange of a commodity for money; the action of selling something.

Quota

A limit placed on the quantity of a specific good that can be imported or exported during a given timeframe, usually to protect domestic industries.