Strong Internal Control Over the Cash Account Requires That the Same

question 31

True/False

Strong internal control over the cash account requires that the same person who is responsible for making the bank deposit not post the increase to cash in the accounting system.

---

Definitions:

Low-dividend Stocks

Stocks of companies that pay lower dividends relative to their share price, often reinvesting earnings into the business for growth.

High-dividend Stocks

High-dividend stocks are shares issued by companies that return a relatively high percentage of their profits to shareholders in the form of dividends.

Personal Income Tax

A tax levied by governments on individuals or households based on their income, with the rate often varying based on income levels.

Dividend Payout Rate

A measure of the percentage of earnings a company pays to its shareholders in the form of dividends.