Commercial Pilot Licence (CPAER) – Canada · Question
Which of the following is an example of an effective internal control over cash disbursements?
Requiring two authorized signatures on cheques, especially for significant amounts, promotes segregation of duties and adds a layer of review, which is a strong
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Question: Which of the following is an example of an effective internal control over cash disbursements?
Answer options:
- Granting all employees access to the blank cheque stock. ✅ Requiring two authorized signatures on cheques above a certain threshold.
- Allowing the same person to approve invoices and sign cheques.
- Not reconciling bank statements to the general ledger.
Correct answer: Requiring two authorized signatures on cheques above a certain threshold.
Explanation: Requiring two authorized signatures on cheques, especially for significant amounts, promotes segregation of duties and adds a layer of review, which is a strong internal control over cash disbursements.
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Question explanations
- What is the minimum visibility required for a commercial VFR flight in Class D airspace at or below 3,000 feet
- What is the minimum age requirement to hold a Commercial Pilot Licence in Canada?
- Scenario 1: A commercial pilot conducting an IFR flight in Canadian airspace must hold which of the following
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