What Is the Primary Goal of Internal Controls for Cash

question 74

Multiple Choice

What is the primary goal of internal controls for cash payments?

• A)To ensure the lowest prices possible are paid.
• B)To make payments as quickly as possible.
• C)To ensure that payments are made only for properly authorized transactions.
• D)To independently verify cash payments.

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Definitions:

Prejudice

A preconceived opinion or judgement about an individual or group without sufficient knowledge, often involving negative or stereotypical beliefs.

Situational Attribution

Assigning the cause of one's behavior or performance to external environmental factors, rather than to internal characteristics.

Social Categorization

The process by which individuals classify others into groups based on shared characteristics.

Festinger and Carlsmith

Researchers known for their study on cognitive dissonance, particularly the 1959 experiment demonstrating how individuals change their attitudes to align with their behaviors.