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1. The use of a cash register for cash receipts is an example of the internal control principle of a. documentation procedures. b. physical,
1. The use of a cash register for cash receipts is an example of the internal control principle of a. documentation procedures. b. physical, mechanical, and electronic controls. c. independent internal verification. d. segregation of duties. 2. Cash includes all of the following items except a. cheques. b. currency. c. money orders. d. all of the above are included. 3. The objectives of internal control are to a. prevent unintentional errors and irregularities. b. safeguard assets and enhance the accuracy and reliability of the accounting records. c. enhance the accuracy and reliability of financial statements. d. safeguard assets and prevent thefts. 4. When a petty cash fund is in use, a. an entry must be made to the appropriate expense, asset, etc. account when a disbursement is made.. b. the size of the fund should be such that it can be used to cash employees' bi- monthly payroll cheques. c. entries are generally made to Petty Cash only when it is initially set up or the stipulated amount of the fund is changed. d. an entry is made to Petty Cash when the fund is replenished to its original amount.
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