How Many of These Are Features of Good Internal Control

question 21

Multiple Choice

How many of these are features of good internal control of cash payments?
1. separation of record-keeping and the authority to sign cheques
2. the use of pre-numbered cheques
3. preparing regular bank reconciliation statements
4. one person having responsibility for all aspects of a cash payment

• A)One
• B)Two
• C)Three
• D)Four

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Definitions:

Group's Mean

The average value obtained by summing all the numerical values in a group and dividing by the number of values.

T-test

A statistical test used to compare the means of two groups or samples to determine if there is a significant difference between them.

Means

Statistical term referring to the average value of a set of numbers.

Null Hypothesis

A hypothesis that assumes no significant difference or relationship between variables until evidence suggests otherwise.