All of the Following Are Important Elements of Internal Control

question 8

Multiple Choice

All of the following are important elements of internal control over cash except

• A) a petty cash system.
• B) a cash reserve.
• C) a bank reconciliation.
• D) the daily deposit of all receipts.

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Definitions:

Customer Contacts

Interactions or communications between a business and its customers through various channels like phone, email, or in-person visits.

Input-Related

Pertains to factors, resources, or materials that are required for the production process or service delivery.

Sales Objective

A specific goal set by a business or sales team aimed at increasing the quantity or quality of sales over a certain period.

Salesforce Evaluation

The process of analyzing and assessing the performance and effectiveness of a company's sales force and implementing improvements based on the assessment.