It is efficient, less costly, and a good internal accounting control procedure to pay small bills each day with cash available from daily cash receipts.

Question

Quizplus · Accepted Answer

Paying small bills daily with cash from daily receipts is not considered efficient or a good internal accounting control procedure because it can lead to disorganization, lack of proper tracking, and potential for theft or mismanagement of funds. Effective internal controls typically involve segregating duties and maintaining clear records of transactions, which is more achievable through scheduled payments and using formal payment methods rather than cash.

It Is Efficient, Less Costly, and a Good Internal Accounting