Which of the Following Is an Essential Internal Control in the Cash

question 19

Multiple Choice

Which of the following is an essential internal control in the cash cycle?

• A)use of two signatures on payroll cheques and payables cheques
• B)independent receipt of the bank statement from the bank
• C)careful accounting of the continuity of cheques returned from the bank
• D)independent preparation of bank reconciliations

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Definitions:

Average Price

The central value of a set of prices, calculated as the sum of all prices divided by the number of prices.

Dietary Supplement

Products taken orally that contain dietary ingredients intended to supplement the diet, such as vitamins, minerals, herbs, or other botanicals.

Weight Loss

The process of losing body weight, typically through diet, exercise, or a combination of both strategies.

Margin of Error

A measure of the uncertainty or potential error in the results of a survey or experiment, often expressed as a plus-minus figure.