Each of the Following Is a Feature of Internal Control

question 52

Multiple Choice

Each of the following is a feature of internal control except

• A)an extensive marketing plan.
• B)bonding of employees.
• C)separation of duties.
• D)recording of all transactions.

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Definitions:

Cash Balance

Represents the amount of cash a company has on hand or in its bank accounts at any given time.

Cash Receipts

The total amount of money received by a business or individual within a given period through transactions or other forms of payment.

Cash Disbursements

Payments made in cash or cash equivalents, covering various expenses such as salaries, supplies, and other operational costs.

Selling and Administrative Expense

Costs related to the selling of products and the administration of a business, excluding manufacturing costs.