Select all that applyIdentify the basic internal control guidelines which should be in place to protect a business's cash by selecting the correct answers below.Multiple select question.Excess cash should be left in the bank to maintain liquidity.Bills should be paid immediately.Handling cash is separate from recordkeeping of cash.Cash receipts are promptly deposited in a bank.Cash payments are made by check.

A good internal control to protect cash is to make cash payments usingMultiple choice question.checks or cashpetty cashcheckscash

Which of the following is not an internal control procedure for cash? Group of answer choices There should be limited access to cash. The amount of cash on hand should be kept to a minimum. Payments should be made with cash. Cash should be deposited daily.

Select all that applyIdentify the examples of good internal control designed to protect over-the-counter cash receipts.Multiple select question.Clerks should be required to give the customer a receipt for each sale.The clerk and the cashier have access to cash, but not to the accounting records.The clerk who has access to cash in the register should have access to its locked-in record.The cash register should hold a temporary record of the transaction.

Which of the following is a suggested procedure to establish internal control over cash disbursements?Select answer from the options belowApproval and payment should be made by a single individual only.Any employee should be able to sign the cheques.Blank cheques should be stored with limited access.The bank statement should be reconciled annually.

Select all that applyIdentify the examples of good internal controls designed to protect cash received in the mail.Multiple select question.The cashier records the amounts received in the accounting records.The recordkeeper and the person who reconciles the bank balance do not have access to cash.The bank balance is reconciled by the person(s) opening the mail.Two people are assigned the task of, and are present for, opening the mail.