The Following Set of Items Describes Activities Completed by a Company

question 76

Multiple Choice

The following set of items describes activities completed by a company in collecting cash for merchandise sales.For each activity, identify whether or not the activity adheres to or violates sound internal control procedures. Cash register tapes are picked up daily by an employee from the accounting department.

• A) Adheres to sound internal control procedures
• B) Violates sound internal control procedures
• C) Neither strengthens nor violates internal control

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Definitions:

Critical Thinking

The ability to analyze facts, generate and organize ideas, defend opinions, make comparisons, draw inferences, evaluate arguments, and solve problems.

Formal Logic

The study of reasoning and arguments through a system of rules and principles.

Perceptiveness

the ability to notice or understand things quickly and accurately, especially those that are not obvious.

Frames of Reference

The perspectives, experiences, or contexts through which individuals interpret information or situations.