Which of the following is not an internal control procedure for cash? A)Payments should be made with cash. B)There should be limited access to cash. C)The amount of cash on hand should be kept to a minimum. D)Cash should be deposited daily.

Question

Quizplus · Accepted Answer

Payments should be made with cash is not an internal control procedure; rather, it is a method of transaction. Internal controls focus on safeguarding assets and ensuring accurate financial reporting, such as limiting access, minimizing cash on hand, and daily deposits.

Which of the Following Is not an Internal Control Procedure