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:

Subject Matter

The topic or substance of a document, discussion, or work, especially referring to the content of a legal document or proceeding.

Special Price

A discounted pricing strategy applied to products or services for promotional purposes or to certain classes of customers.

European Vacation

A holiday spent in one or more countries in Europe, often characterized by visits to cultural sites, natural landscapes, and experiencing local cuisine.

Clearly Stated

Something presented or expressed in a manner that leaves no doubt about its meaning.