One Method of Establishing Proper Internal Control Over Collections of Accounts

question 67

Multiple Choice

One method of establishing proper internal control over collections of accounts receivable is to:

• A) make all disbursements by cheque
• B) set up a petty cash fund
• C) establish a bank lock-box
• D) designate an authorized cheque signer

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Definitions:

Move Eyes

The action of changing the direction of gaze by shifting the position of the eyeballs within the ocular orbit.

Induced Motion

The perception of movement in a stationary object due to the movement of the surrounding frame of reference.

Stationary Train

A train that is not moving or is designed to remain in one place.

Moving Forward

Progressing in a positive direction, often implying advancement towards a goal, improvement, or development.