Which of the following is the most basic internal control measure for cash?
A)keeping money in a bank account
B)checking for counterfeit bills
C)counting cash receipts twice
D)internal audit of cash procedures

Question

Quizplus · Accepted Answer

Keeping money in a bank account is the most basic internal control measure for cash as it provides a secure and traceable way of handling cash transactions. It also reduces the risk of loss or theft. The other options may also be important internal control measures, but they are not as basic as keeping money in a bank account. Checking for counterfeit bills, counting cash receipts twice, and internal audit of cash procedures are all additional control measures that can be implemented to enhance the overall control of cash.

Which of the Following Is the Most Basic Internal Control