Which of the Following Is an Appropriate Internal Control Activity

question 151

Multiple Choice

Which of the following is an appropriate internal control activity for cash?

• A)Record keeping and custodianship over cash should be performed by the same person.
• B)Banking facilities should be used as little as possible.
• C)All payments should be made with currency, not checks.
• D)The amount of cash on hand should be kept to a minimum.

---

Definitions:

Value-based Marketing

A marketing strategy focused on providing products or services that offer superior value to customers, aligning with their values and needs for lasting relationships.

Market-oriented

A business approach focusing on understanding and meeting the desires and needs of its customers through its product mix.

Sales-oriented

Pertains to a business approach focused primarily on sales volume as the chief measure of success, often at the expense of customer satisfaction or product quality.

Lifetime Profitability

Refers to the total net profit a company expects to earn over the entirety of its business relationship with a customer.