Which of the Following Is Not an Internal Control Activity

question 63

Multiple Choice

Which of the following is not an internal control activity for cash?

• A) Surprise audits of cash on hand should be made occasionally.
• B) All cash receipts should be recorded promptly.
• C) The number of persons who have access to cash should be limited.
• D) Most transactions should be in cash to reduce recordkeeping.

Understand the concepts of synergy and its types within organizational strategy.

Familiarize with Porter's models of competitive strategies and their implications for organizational success.

Understand the role of previous environments and experiences in shaping attitudes.

Recognize that different mindsets can be applied to different tasks.

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Definitions:

Common Stock

A type of equity security representing ownership in a corporation, with holders typically having voting rights and a residual claim on corporate earnings.

Financing Section

Part of a cash flow statement that gives information on cash flows related to financing activities like loans, repayments, and issuing of stocks.

Cash Flows

The total amount of money being transferred into and out of a business, typically measured during a specific period for financial analysis.

Statement of Cash Flows

A summarized record of all the cash coming into a company from operations and investment sources, and all the cash spent on business activities and investments within a certain period.