Which of the Following Would Not Be Considered an Element

question 35

Multiple Choice

Which of the following would not be considered an element of good internal control?

• A) Require monthly reconciliation of bank accounts with the cash account.
• B) Require that all cash receipts be deposited on a daily basis.
• C) Require that the individual who handles cash receipts be responsible for the accounting function related to those funds.
• D) Require that approval for cash payments and the signing of cheques be assigned to different individuals.

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Definitions:

Recovery Act

Refers to legislation aimed at promoting economic recovery, such as the American Recovery and Reinvestment Act of 2009 intended to stimulate the U.S. economy.

Environmental Protection Agency

A U.S. federal agency created for the purpose of protecting human health and the environment by enforcing regulations based on laws passed by Congress.

Safe Drinking Water Act

A federal law in the United States aimed at ensuring the quality of Americans' drinking water by regulating its sources and contaminants.

Drinking Water Standards

Regulations determining the minimum quality of water provided for human consumption to ensure it is safe and free from contaminants.