The Internal Control Activity Requiring the Preparation of a Bank

question 54

Multiple Choice

The internal control activity requiring the preparation of a bank reconciliation will minimize the risk of all of the following EXCEPT:

• A)Timing issues
• B)Stolen cash
• C)Fictitious employees
• D)Invalid or omitted paychecks

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Definitions:

Contract Law

A domain of law that governs the creation, execution, and enforcement of agreements between parties.

Corporate Law

Law that governs the formation, financing, merger and acquisition, and termination of corporations, as well as the rights and duties of those who own and run the corporation.

Public Prosecutor

An attorney whose official duty is to conduct criminal proceedings on behalf of the government or the public interest.

Own Businesses

The act of possessing, establishing, and managing one's commercial ventures or enterprises independently.