Which of the Following Demonstrates a Poor Internal Control Procedure

question 105

Multiple Choice

Which of the following demonstrates a poor internal control procedure?

• A)The bookkeeper makes cash deposits and records journal entries related to cash,while the treasurer prepares the bank reconciliation.
• B)The president,who does no bookkeeping,prepares the bank reconciliation each month.
• C)The treasurer signs all checks after the bookkeeper prepares the supporting documents.
• D)One bookkeeper prepares cash deposits and the other bookkeeper enters the collections in the journal and ledger.

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Definitions:

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The price at which an option holder can buy or sell the underlying security.