Which of the Following Is not a Suggested Procedure to Establish

question 93

Multiple Choice

Which of the following is not a suggested procedure to establish a good control activity over cash disbursements?

• A)pre-signed blank cheques
• B)Different individuals approve and make payments.
• C)Blank cheques are stored with limited access.
• D)The bank statement is reconciled monthly.

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Definitions:

Par Value

The face value of a bond or the stock value stated in the corporate charter.

Callable

Refers to a type of financial security, such as a bond, that can be redeemed or "called" by the issuer before its maturity date, usually at a specified call price.

Yield To Call

The rate of return anticipated on a bond if it is held until the call date, considering both the interest payments received and the capital gain or loss upon redemption.

Call Price

The price at which a callable bond or preferred stock can be repurchased by the issuer before its maturity date.