Which of the Following Is the Most Basic Internal Control

question 36

Multiple Choice

Which of the following is the most basic internal control for cash?

• A) Keeping money in a bank account
• B) Checking for counterfeit bills
• C) Counting cash receipts twice
• D) Internal audit of cash procedures

---

Definitions:

Demand

The desire to purchase goods and services backed by the ability and willingness to pay at a given price.

Demand Curve

A graphical representation showing the relationship between the price of a product and the quantity of the product demanded at those prices.

Increase in Demand

Refers to a rise in the quantity of a product or service that consumers are willing and able to purchase at various prices, often due to factors like income increases, taste preferences, or changes in population.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price level in a given period.