All of the Following Actions Would Strengthen Internal Control Over

question 27

Multiple Choice

All of the following actions would strengthen internal control over a petty cash fund except

• A)surprise counts by a supervisor.
• B)cancellation of paid vouchers.
• C)submission of supporting documents.
• D)multiple petty cash custodians.

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Definitions:

GDP Deflator

An economic metric that converts the money-value measure of GDP from current prices to constant prices, enabling comparison of economic productivity and real growth over specific periods.

GDP Deflator

An economic metric that converts the money-value measure of GDP to an index for quantity comparison.

Nominal GDP

The total economic value of all finished products and services generated inside a country over a year, evaluated at present market prices.

Real GDP

Gross Domestic Product adjusted for inflation, measuring the value of goods and services produced by a country in a given year, expressed in constant prices.