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establishment of responsibility segregation of duties documentation procedures physical, mechanical, and electronic controls independent internal verfication
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Internal control procedures for cash receipts require that?
go to study
What are the five key control objectives in cash payment system?
No
An application of good internal control over cash disbursements is...?
following payment, the approved invoice should be stamped "paid"
What is the most basic internal control for cash?
Keeping money in the bank account because banks have established practices for safeguarding customer's money.
Can petty cash be misappropriation of funds?
Petty cash is also called cash-in- hand as opposed to cash- at- bank. Where there is good system of internal control eg. petty cash float is established and maintained and occasional surprise csh count is undertaken a presponsible person, the possibility misapropriation of funds is rather very remote.
Internal control procedures for cash receipts require that?
go to study
What are the five key control objectives in cash payment system?
No
An application of good internal control over cash disbursements is...?
following payment, the approved invoice should be stamped "paid"
At the corner grocery store all sales clerks make change out of one cash register drawer Is this a violation of internal control and Why?
A
What is the most basic internal control for cash?
Keeping money in the bank account because banks have established practices for safeguarding customer's money.
Can petty cash be misappropriation of funds?
Petty cash is also called cash-in- hand as opposed to cash- at- bank. Where there is good system of internal control eg. petty cash float is established and maintained and occasional surprise csh count is undertaken a presponsible person, the possibility misapropriation of funds is rather very remote.
The reconciliation of the cash register tape with the cash in the register is an example of?
independent internal verification
What methods of payment are accepted on the Chicago Skyway?
The only methods of payment that are currently accepted on the Chicago Skyway are : Cash, EZPass, and IPass. Cash is only accepted if you drive through the "Cash Only" lane.
What are the five characteristics of cash?
the five characteristics are 1dollarbill,5dollarbills,10dollarbills,20dollarbills,50dollarbills theres NOT ONLY FIVE charastics of cash there SIX CHARACTERISTIC OF CASH 100 dollarbills.
Will both the direct and indirect methods produce the same cash flow from operating activities?
Yes direct and indirect methods are just different reporting styles and it doesn't means that by making cash flow statement from different methods may change the amount of cash flows.
What are methods of conserving the money?
Put it in a cash ISA
Methods of preparing statement of Cash flow?
Following are methods:1 - direct method2 - indirect method
