Which of the Following Is not an Internal Control Procedure

question 137

Multiple Choice

Which of the following is not an internal control procedure for cash?

• A)Payments should be made with cash.
• B)There should be limited access to cash.
• C)The amount of cash on hand should be kept to a minimum.
• D)Cash should be deposited daily.

---

Definitions:

Exchange Rate

The value of one currency for the purpose of conversion to another, determining how much of one currency can be exchanged for another currency.

Pound

A unit of currency used in the United Kingdom and other territories, symbolized by £ and formally known as the pound sterling.

Currency Depreciates

A decrease in the value of a country's currency with respect to one or more foreign benchmark currencies, typically in a floating exchange rate system.

Government Action

Measures and initiatives undertaken by a governmental body to influence the economy, societal issues, or the implementation of public policies.