Which of the Following Is not a Universal Rule for Achieving

question 69

Multiple Choice

Which of the following is not a universal rule for achieving internal control over cash?

• A)Separate recordkeeping from accounting for cash to the extent possible.
• B)Deposit each day's cash receipts intact.
• C)Separate cash handling from recordkeeping.
• D)Have monthly bank reconciliations prepared by employees not responsible for the issuance of checks.

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Definitions:

Unit Volume

The quantity of units produced or sold by a business, used as a measure of output or sales level.

Total Expense Line

A financial metric that represents the sum of all expenses encountered by a business, usually presented in the income statement.

Total Revenue Line

A financial metric representing the total amount of money generated from sales before any expenses are subtracted.

Sales Mix

The proportion of different products or services that a company sells, representing the combination of sales that impacts overall profitability.