An Effective System of Internal Control Requires That at Least

question 26

True/False

An effective system of internal control requires that at least two individuals be assigned to one cash drawer so that each can serve as check on the other.

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Definitions:

Mnemonic Device

A method or technique used to aid memory, often by making information easier to remember through patterns, letters, or associations.

Memory Aid

A tool or strategy used to improve recall of information.

Preconceived Ideas

Opinions or beliefs formed before having adequate evidence, often leading to biases.

New Information

Fresh data or knowledge that was previously unknown or not available.