Which of the Following Is the Most Basic Internal Control

question 142

Multiple Choice

Which of the following is the most basic internal control for cash?

• A)Checking for counterfeit bills
• B)Counting cash receipts twice
• C)Internal audit of cash procedures
• D)Keeping money in a bank account

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Definitions:

Nonparametric Statistics

Statistical methods that do not assume a particular distribution of the data and are used especially for data that is not normally distributed.

Small Sample Sizes

This term relates to studies or experiments that involve a limited number of observations or data points, which can affect the reliability and generalizability of the results.

Future Value

Future value is the value of an asset or amount of money at a specific future date, accounting for specified interest rates or returns over time.

Time Period

A specific duration marked by a start and end date or time, often used in financial and performance analysis.