Choose the best answer

1) One of the following is not true about control procedures for cash disbursement:

a) To have two signatories on each cheque over a material amount so one person cannot withdraw money.

b) Give access to cheque to employees authorized to write cheques.

c) Make all disbursement by cheque or from petty cash, d) Obtain proper approval for disbursements.

2) One of the following is true about incremental Budgeting:

a) Incremental budgeting is appropriate to use if the primary cost drivers do not change from year to year.

b) it is simple and easy to understand.

c) Incremental budgeting takes last years actual figures. d) All of the above

4) Internal Controls may help organizations through various ways. The main ideas include:

a) It would safeguard assets of the organization.

b) It enables operational efficiency of the organization.

c) It promotes accountability and responsibility.

d) None of the above

e) All of the above