Which of the following is an appropriate internal control activity for cash?
A)Record keeping and custodianship over cash should be performed by the same person.
B)Banking facilities should be used as little as possible.
C)All payments should be made with currency, not checks.
D)The amount of cash on hand should be kept to a minimum.

Question

Quizplus · Accepted Answer

Keeping the amount of cash on hand to a minimum reduces the risk of theft or loss and is a good internal control practice.

Which of the Following Is an Appropriate Internal Control Activity