Payment by Check Is an Important Internal Control Since

question 149

Multiple Choice

Payment by check is an important internal control since:

• A)the check provides a record of the payment.
• B)the check must be signed by an authorized official who should study the evidence supporting the payment.
• C)all checks must be approved by the bank's internal audit department before they are paid.
• D)both A and B are true.

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Definitions:

One Year

A period of time that consists of 12 consecutive months.

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Refers to individuals who are in the sixtieth year of their life or the decade of life from 60 to 69 years old, often considered the early years of old age.