02 May HOW IS A BANK ACCOUNT CONSIDERED AN INTERNAL CONTROL MEASURE?
How does the use of bank accounts ensure control of cash? 8 points
Directions to complete Question 1:
• TIP 1: Consider using an introductory paragraph explaining:
a. What is an internal control measure?
b. What is the importance of an internal control measure?
c. How is a bank account considered an internal control measure?
• Use short responses, in complete sentences with proper grammar and spelling
• Your answer should be no less than 8 sentences.
Question 2:
How does the use of bank accounts improve managements decision making?
Directions to complete Question 2:
• TIP 1: Think about your experiences with Banking. What does it help you to do?
• Use short responses, in complete sentences with proper grammar and spelling
• Your answer should be no less than 8 sentences.
Question 3:
How does the bank reconciliation reduce the likelihood of theft and fraud?
Directions to complete Question 3:
• Use short responses, in complete sentences with proper grammar and spelling
• Your answer should be no less than 8 sentences.
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