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Internal Control Is Strengthened by a Policy of Making Payments

question 153

True/False

Internal control is strengthened by a policy of making payments by check, or from cash receipts, or from a petty cash fund.

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Definitions:

Sailboards

Lightweight boards equipped with sails, used for the sport of windsurfing.

Sail-Away Corporation

A term referring to companies that are set up and operated to avoid taxes and regulations, typically by operating in a jurisdiction other than where they conduct business.

Due Care

The effort made by an individual to avoid harm to other people or their property.

Product Liability

The legal responsibility of manufacturers, wholesalers, or retailers for injuries caused by defective or unexpected dangerous products they provide.

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