Which of the following has the greatest internal control?
A) payments made by credit card
B) payments made by cheque
C) payments made by electronic funds transfer
D) payments made by cash

Question

Quizplus · Accepted Answer

Payments made by electronic funds transfer have the greatest internal control because they involve electronic authorization and verification processes, such as digital signatures and security codes, which minimize the risk of fraud or errors. Cheques and cash are more susceptible to theft, counterfeiting, or mishandling, as they rely on physical handling and manual processing. Credit cards also have some level of internal control, but they may be subject to chargebacks, disputes, or unauthorized use.

Which of the Following Has the Greatest Internal Control