Payments by EFT Are an Important Internal Control for All

question 119

Multiple Choice

Payments by EFT are an important internal control for all of the following reasons EXCEPT for:

• A)the EFTs provide a record of the payments.
• B)the EFT must be authorized by an authorized official.
• C)all EFT payments are made by the cashier in the Accounting Department.
• D)before authorizing the EFT,the authorized official should study the evidence supporting the payment.

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Definitions:

Simplify

The process of expressing a mathematical expression in a more concise and understandable form, often by combining like terms or reducing fractions.

Combine

This refers to the process of joining two or more items together, often used in mathematics to sum similar terms.

Simplify

The process of altering an expression into its most basic or concise form, without changing its value.

Combine

To bring two or more elements together to form a single entity or result.