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A good system of internal control for cash provides adequate procedures for protecting both cash receipts and cash disbursements. Identify which one of following statements
A good system of internal control for cash provides adequate procedures for protecting both cash receipts and cash disbursements. Identify which one of following statements is true regarding this protection.
A basic guideline for safeguarding cash is to require all cash disbursements be made by check. | |
A basic guideline for safeguarding cash is to require that all cash receipts be deposited monthly. | |
A basic guideline for safeguarding cash is to require all cash disbursements be made in cash. | |
A basic guideline for safeguarding cash is to have separate bank accounts for cash receipts and cash disbursements. |
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