An Application of Good Internal Control Over Cash Disbursements Is

question 81

Multiple Choice

An application of good internal control over cash disbursements is

• A) following payment the approved invoice should be stamped PAID.
• B) blank checks should be stored in the treasurer's desk.
• C) each check should be compared with the approved invoice after the check is issued.
• D) check signers should record the cash disbursements.

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Definitions:

Rational Model

is a decision-making process that involves logical and systematic steps based on reason and facts.

Experienced Blind Spot

A phenomenon where expertise or familiarity in one area can lead to an oversight or failure to recognize potential flaws or alternative options in decision-making.

Tenured Managers

Managers who have secured a permanent position, often in academia, offering job security and freedom from dismissal without just cause.

Unexpected Crisis

A sudden, unanticipated event that poses a significant threat and requires immediate response.