Which of the following is not an internal control activity for cash?
A)The amount of cash on hand should be kept to a minimum.
B)Banking facilities should be used as much as possible.
C)Employees who have access to cash should be bonded.
D)All payments should be made with currency,not checks.

Question

Quizplus · Accepted Answer

Making all payments with currency and not utilizing checks does not serve as an internal control activity for cash. In fact, using checks instead of cash provides a clear audit trail and reduces the risk of cash being lost or stolen. A, B, and C are all internal control activities commonly used for managing cash.

Which of the Following Is Not an Internal Control Activity