Question 5 Basic control procedures used to promote effective internal control include: proper authorization of transactions and activities assigning different persons the responsibility of authorizing and recording transactions, and holding assets. limiting access to assets and records to authorized persons All of the above Question 8 Which of the following is not a feature of good internal accounting control over cash? Most bills are paid with paper currency and coins to minimize the bank service charges. A bank reconciliation is prepared when each bank statement is received. Cash is handled separately from the recording of cash transactions. All cash receipts are deposited in the bank each day. Question 10 A revenue expenditure: Increases a revenue account Decreases the book value of a long-term asset 0 Increases an expense account Increases the book value of a long-term asset - save this response