Which of the Following Is an Internal Control Procedure Relating

question 181

Multiple Choice

Which of the following is an internal control procedure relating to cash payments?

• A)Completing a bank deposit.
• B)The use of cash count sheets.
• C)Comparing cash register records with the bank deposit.
• D)Using an imprest system.

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Definitions:

Option Price

The price at which the holder of an option can buy (in the case of a call option) or sell (in the case of a put option) the underlying asset.

Subscription Contract

An agreement between a provider and a customer for the provision of services or delivery of goods over a specified period in return for payment.

Shares Issued

The total number of a company's shares that have been sold to and held by shareholders.

Par Common Stock

Common stock with a nominal or face value assigned to it, often used in accounting to determine legal capital.