Which of the following is an appropriate internal control activity for cash?
A) Recordkeeping and custodianship over cash should be performed by the same person.
B) The amount of cash on hand should be kept to a minimum.
C) Banking facilities should be used as little as possible.
D) All payments should be made with currency, not checks.
B
You might also like to view...
The difference between value and price is the_______
a. customer incentive to purchase b. fundamental value equation c. estimate of value changes d. concept of value in the business markets
Which of the following is true of licenses?
A) A license grants the licensee complete control over intellectual property. B) An exclusive license is granted to only one licensee for a specific period. C) A licensee has complete control over the information he or she is allowed to access. D) A licensee has the right to use information rights beyond the licensor's control.
Jeter Industries has an accounts receivable turnover ratio of 4.5. If Jeter has an accounts receivable
balance of $100,000, what is Jeter's average daily credit sales? A) $22,222.22 B) $1,893.45 C) $745.23 D) $1,232.88
The flow of work through a hospital is sometimes referred to as a patient activity diagram.
Answer the following statement true (T) or false (F)