Internal Control Over Cash Transactions

question 172

Essay

Internal control over cash transactions
(a.) Describe three measures contributing to strong internal control over cash receipts.
(b.) Describe three measures contributing to effective internal control over cash disbursements.

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Definitions:

T-test

A statistical test used to compare the means of two groups.

Null Hypothesis

A statement in statistics that proposes there is no significance difference or effect, generally serving as the default or starting assumption in hypothesis testing.

Alpha

The threshold for significance in statistical testing, typically set at 0.05, below which the null hypothesis is rejected.

T-test

A statistical test used to compare the means of two groups, often employed to determine if there are significant differences between them.