Internal Control Over Cash Receipts Will Include All of the Following

question 73

Multiple Choice

Internal control over cash receipts will include all of the following EXCEPT

• A) only designated personnel are authorized to handle cash receipts.
• B) only one authorized person will receive the cash and record the cash receipts.
• C) use of cash registers.
• D) employees are required to take vacation.

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Definitions:

Skewed to the Right

A description of a distribution of data where the right tail (higher values) is longer than the left tail, indicating a concentration of lower values.

Critical Region

The critical region is a set of values for which the null hypothesis is rejected in hypothesis testing; it specifies the threshold at which the observed results are deemed statistically significant.

Multinomial Distribution

A statistical distribution that generalizes the binomial distribution for variables that can take on more than two categories.

Proportions

A statistical measure that describes the size of a part in relation to the whole, often expressed as a fraction or percentage.