Which of the Following Is not an Internal Control Activity

question 50

Multiple Choice

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

• A)All payments should be made with currency, not checks.
• B)Banking facilities should be used as much as possible.
• C)The amount of cash on hand should be kept to a minimum.
• D)Employees who have access to cash should be bonded.

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Definitions:

Flow Variable

A variable that is measured over a specific period of time, representing dynamic elements of an economy like income or spending.

Federal Budget Deficit

The deficit occurring when government spending surpasses its income in a specific fiscal year.

National Debt

The total amount of money that a country's government has borrowed, by various means, and has yet to repay.

Federal Government Budget Deficit

The financial situation in which the federal government's expenditures exceed its revenues, leading to borrowing and debt accumulation.