Which of the Following Is an Internal Control Procedure Used

question 71

Multiple Choice

Which of the following is an internal control procedure used to safeguard a company's assets?

• A)Depositing cash receipts in a bank on a timely basis
• B)Segregation of duties
• C)Preparing a bank reconciliation
• D)All of these answer choices are correct

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Definitions:

Bankruptcy

A legal proceeding involving a person or business that is unable to repay outstanding debts.

Federal Statute

A law enacted by the federal government of a country.

State Constitutional Provision

A legal provision or amendment within a state's constitution that outlines specific rights, responsibilities, or regulations unique to that state.

Procedural Due Process

Procedural due process is the legal requirement that the state must respect all the legal rights owed to a person, including ensuring fair procedures when it seeks to deprive a person of life, liberty, or property.