Which of the following is the 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 basic internal control measure for cash as it reduces the risk of theft and provides a record of cash transactions. Checking for counterfeit bills, counting cash receipts twice, and internal audits are also important internal controls but are not as fundamental as keeping cash in a bank.

Which of the Following Is the Basic Internal Control Measure