The Internal Control That Requires That "Checks Are Pre-Numbered and Accounted

question 99

Multiple Choice

The internal control that requires that "checks are pre-numbered and accounted for" satisfies which assertion?

• A)Accuracy.
• B)Existence.
• C)Completeness.
• D)Posting and summarization.

---

Definitions:

Equal withdrawals

Regularly scheduled payments of the same amount taken from an investment or savings account.

Compounded monthly

Interest calculation method where interest is added to the principal sum once a month, affecting the total interest accrued over time.

Compounded monthly

Interest calculation method where interest is added to the principal every month, increasing the amount of future interest accruals.

College fund

A sum of money saved or invested over time, designated for covering future college education expenses.