Which of the following is not a feature of good internal accounting control over cash?
A) All cash receipts are deposited in the bank each day.
B) Most bills are paid with paper currency and coins to minimize the bank service charges.
C) A bank reconciliation is prepared when each bank statement is received.
D) Cash is handled separately from the recording of cash transactions.
E) All of the above are part of a good system of internal accounting control over cash.

Question

Quizplus · Accepted Answer

Paying most bills with paper currency and coins to minimize bank service charges is not a feature of good internal accounting control over cash. Good internal control systems typically encourage the use of traceable transactions, such as checks or electronic payments, which provide a record and are more secure than using cash.

Which of the Following Is Not a Feature of Good